Timeline for Permian Basin's largest CCS facility clouded by 45Q uncertainty

摘要

Lucid Energy Group’s newest carbon capture and sequestration project in the Permian Basin plans to sequester 500,000 mt/year of CO_2, but uncertainty surrounding the future of the federal sequestration tax credit 45Q clouds the project’s timeline, a company executive said. Lucid plans to upgrade its Red Hills natural gas processing complex in Lea County, New Mexico, with CCS technology. With a planned capturerate of 500,000 mt/year of CO_2, it stands to be the largest CCS facility in the Permian Basin that will be permanently storing CO_2 underground.