Trace, Molpus to Develop Evergreen Carbon Sequestration Hub in Louisiana
(P&GJ) — Trace Carbon Solutions LLC and Molpus Woodlands Group have signed an agreement to develop and operate a carbon sequestration site, to be called the Evergreen Sequestration Hub (Evergreen Hub), on approximately 20,000 acres in Calcasieu and Beauregard parishes in Louisiana.
Trace will use the site to permanently sequester industrial carbon dioxide (CO2) in underground geologic formations, while Molpus will continue to manage the aboveground acreage as a sustainably managed working forest.
This servitude agreement is a fundamental step towards Trace’s goal to develop low-cost carbon capture, transportation and sequestration (CCS) assets across North America. The company anticipates that the Evergreen Hub will have high CO2 injectivity and total sequestration capacity of over 250 million metric tons of CO2.
The need for this sequestration capacity is supported by significant emission sources in the nearby Southwest Louisiana and Southeast Texas areas; Trace estimates more than 65 million metric tons per year of existing stationary CO2 emissions are located within 50 miles of the Evergreen Hub.
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