Baker Hughes Acquires Power Generation Business
Inside this issue
American CCUS Forum Recap, Part 2
Last week, the American CCUS Forum took place in Houston, Texas. It was a fantastic opportunity to visit with leaders across the carbon management value chain.
A couple take-aways from the event:
- Funding opportunities with DOE & creative investors
- Regulatory primacy & permitting process
- Supply chain bottlenecks (Thursday)
- Staffing challenges (Thursday)
- Public perception (Friday)
🏛 Regulatory primacy & permitting process
Today, the EPA regulates Class VI sequestration wells in all states except for North Dakota and Wyoming. Class II wells inject fluids related to oil and gas production, including CO2 for Enhanced Oil Recovery (EOR).
According to the EPA, there are about 120,000 EOR well in the United States in oil & gas producing regions. The EPA sets a minimum standard for these Class II wells and it is likely that many of these states that are regulating Class II wells begin formally requesting delegation of authory for Class VI wells.
Overview of state activity:
- Illinois: Two Class VI wells are operating at the ADM facility
- North Dakota: Issued two CO2 injection permits for geologic sequestration in 2022
- Wyoming: Actively reviewing and accepting injection well permits
- Texas: Applying for primacy in 2022
- Louisiana: Applied for primacy in 2021 and is under EPA review
Based on discussions at the CCUS forum, EPA expects 18 to 24 months for the Class VI well permitting process. Additional resources at the state level could accelerate the application and approval process. This is key to help more projects move forward in the early stages. With more projects becoming economic, relieving the bottleneck in the regulatory process is critical to move projects forward.
Inside this Issue
🏭 Sempra Infrastructure and AVANGRID Announce Plans to Develop U.S. Green Hydrogen and Ammonia Projects
🏁 UConn, R/GA Ventures, CTNext to Launch Venture Studio Addressing Climate Change
⛏ Rio Tinto partners with Government of Canada to decarbonise RTFT and boost critical minerals processing
✅ One Equity Partners Completes Sale of BRUSH Group's Power Generation Business
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