1PointFive and Enterprise Agreement Supports Development of Carbon Dioxide Transportation Network for Southeast Texas Sequestration Hub

HOUSTON, Oct. 28, 2024 (GLOBE NEWSWIRE) -- 1PointFive, a carbon capture, utilization, and sequestration (CCUS) company, and Enterprise Products Partners L.P. (NYSE: EPD) today announced an agreement for the development of a carbon dioxide (CO₂) transportation network to support the Bluebonnet Sequestration Hub that 1PointFive is developing in southeast Texas.

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1PointFive, a subsidiary of Occidental, is progressing the development of carbon sequestration hubs that leverage Occidental’s 50-year history of managing CO₂ to deliver solutions that help advance industrial decarbonization.

Under the Transportation Services Agreement, once 1PointFive provides notice, Enterprise will develop a new pipeline network and provide fee-based transportation services to 1PointFive to transport CO₂ emissions captured by third parties at facilities in the vicinity of the Houston Ship Channel to 1PointFive’s Bluebonnet Sequestration Hub. The new pipeline network will be co-located with existing pipeline infrastructure.

“We are excited to reach this milestone and look forward to collaborating with Enterprise to build a CO₂ transportation network for our sequestration hub, which is designed to provide a reliable and efficient way for hard-to-abate sectors to address their CO₂ emissions,” said Jeff Alvarez, President of 1PointFive Sequestration. “This agreement pairs our expertise managing large volumes of CO₂ with Enterprise’s decades of midstream experience to bring confidence to industrial customers seeking a decarbonization solution.”

“This project with 1PointFive builds upon the strong working relationship we have had with Occidental for many years,” said Bob Sanders, Executive Vice President of Asset Optimization for Enterprise’s general partner. “By leveraging our proven midstream expertise and integrated network of assets, we are well positioned to provide a reliable and cost-efficient CO₂ transportation solution.”

1PointFive’s Bluebonnet Sequestration Hub was recently awarded funding from the U.S. Department of Energy (DOE) to support the Hub’s development and realize the potential of carbon sequestration in the United States.

About 1PointFive

1PointFive is a Carbon Capture, Utilization and Sequestration (CCUS) company that is working to help curb global temperature rise to 1.5°C by 2050 through the deployment of decarbonization solutions, including Carbon Engineering's Direct Air Capture and AIR TO FUELS™ solutions alongside geologic sequestration hubs. Visit 1PointFive.com for more information.

AIR TO FUELS™ is a registered trademark of Carbon Engineering ULC.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products, and petrochemicals. Services include: natural gas gathering, treating, processing, transportation, and storage; NGL transportation, fractionation, storage, and marine terminals; crude oil gathering, transportation, storage, and marine terminals; petrochemical and refined products production, transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 300 million barrels of storage capacity for NGLs, crude oil, refined products, and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit enterpriseproducts.com for more information.