Navigator Expanding Carbon Capture Pipeline Project
Navigator CO2 Ventures announced the successful conclusion of the non-binding open season of its carbon capture pipeline system (CCS). The proposed CCS project seeks to provide biorefineries and other industrial participants a long-term, economic path to materially reduce their carbon footprint by capturing and transporting CO2 through 1,200 miles of pipeline across five Midwest states to a permanent sequestration site.
Based on extensive feedback from potential customers representing diverse emissions sources, and to provide a holistic solution for multiple industries, Navigator is looking to expand the capacity of the pipeline and proceed with multiple sequestration sites, creating an injection capacity of up to 12 million metric tons per year.
Navigator previously announced its partnership with BlackRock Global Energy & Power Infrastructure Fund to develop the CCS in Nebraska, Iowa, South Dakota, Minnesota and Illinois; Valero Energy Corporation is the anchor customer. The proposed system plans to transport liquefied carbon dioxide through the pipeline to a sequestration site. At full capacity, the CCS will have the ability to capture and store enough CO2 to be the equivalent of removing approximately 2.6 million cars from the road per year or planting 550 million trees per year or eliminating carbon footprint of Kansas City 1.5 times over. According to the International Energy Agency, carbon capture and storage projects have the ability to reduce global CO2 emissions by almost one fifth, and lower the cost of addressing climate change by 70%.
Navigator will use the information received during the non-binding open season to continue working with interested shippers on binding commercial agreements. The framework of these agreements will form the basis to launch the binding open season, expected early this month. This CCS project is one of the first large-scale, commercially viable, carbon pipelines to be developed in the United States. Plans are underway to further expand the scope of the project as needed to accommodate future incremental customer demand. Navigator anticipates the CCS project to begin operations in-phases beginning in late 2024.
For more information regarding the open season, please contact Laura McGlothlin, Chief Commercial Officer, at lmcglothlin@navigatorco2.com or visit www.navigatorco2.com.
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