Crescent Midstream Selected to Develop an Integrated Carbon Capture Solution for Entergy Natural Gas Power Plant

Core Insights - Crescent Midstream is leading the development of a significant carbon capture and sequestration (CCS) project for Entergy Corporation's Lake Charles Power Station, which aims to capture up to 3 million metric tonnes of CO2 annually, equivalent to the emissions of 600,000 vehicles [1] - The project, estimated to cost around $1 billion, will utilize Honeywell's capture technology and is a collaboration between Crescent, Entergy, SAMSUNG E&A, and Honeywell [1] - Louisiana is the second-largest CO2-emitting state in the U.S., with over 72 million tonnes of CO2 emissions per year, primarily from industrial sources [2] Project Details - The CCS project will involve constructing a facility and pipeline to capture and transport CO2 from Entergy's natural gas-fired power plant to permanent underground storage [1][3] - Crescent Midstream will leverage its extensive experience in pipeline construction and operations to ensure the safe transportation of CO2 [3] Corporate Sustainability Efforts - Crescent Midstream emphasizes corporate sustainability, aiming to connect CO2 emission sources with permanent storage solutions [4] - The company is also sponsoring initiatives to plug orphaned oil wells in Louisiana to reduce methane emissions and has completed marsh preservation projects to combat coastal erosion and restore CO2-absorbing plant life [4] Financial Backing - Crescent Midstream is supported by The Carlyle Group, which manages $435 billion in assets as of June 30, 2024 [5] Company Overview - Crescent Midstream is an independent energy company focused on providing crude oil services in the Gulf of Mexico and Louisiana, with a strong asset footprint that positions it for organic growth [6]