EnLink Midstream to develop Barnett Shale carbon capture project
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EnLink Midstream (NYSE:ENLC) said Thursday it reached a Phase 1 final investment decision with privately held energy E&P company BKV Corp. and entered into a definitive agreement to develop a carbon capture and sequestration project in Texas' Barnett Shale.
The companies plan to begin sequestration in 2023, which they said would make the CCS project one of the first permanent facilities to come online in the U.S.
EnLink (ENLC) said the project will capture and store "a significant amount" of carbon dioxide emissions per year, moving the company closer to achieving its goal of a 30% cut in CO2-equivalent emissions intensity by 2030.
EnLink (ENLC) also said it will team with Honeywell (HON) to deliver carbon capture solutions to industrial-scale CO2 emitters along the Louisiana Gulf Coast.
Honeywell (HON) said it will conduct a feasibility study for a potential retrofit of existing assets at its Louisiana facilities, including a carbon capture solution and EnLink's (ENLC) transportation and sequestration solution
EnLink Midstream (ENLC) "continues to outperform with another quarterly beat-and-raise," HFIR MLPs writes in a bullish analysis published on Seeking Alpha.