Caddo Sustainable Timberlands, LP Announces First Carbon Capture and Storage Transaction, Targeting Permanent Sequestration of More Than 9M Tons of CO2 Annually
Published by Todd Bush on September 23, 2022
ATLANTA--(BUSINESS WIRE)--Caddo Sustainable Timberlands, LP (“CST”), the largest private timberland owner in Texas, has announced it has entered into its first agreement for the evaluation and potential development of a carbon capture and storage (“CCS”) project on approximately 27,000 acres of CST’s holdings in Texas.
>> In Other News: Carbon Ridge Secures $6 Million Investment from Leading Climate Investors and Maritime Industry Leaders
The project aims to permanently store carbon dioxide (“CO2”) in subsurface geologic formations through a process that is not associated with enhanced oil recovery, while CST continues to sustainably manage the timberland on the surface.
CST’s timberland has the potential to offer suitable subsurface geology for storage of CO2. It is also located close to both existing and planned CO2 transportation and injection infrastructure and sources of CO2 from industrial emitters. The agreement is the first step in CST’s strategic vision for leasing and helping develop multiple CCS projects across its 889,000 acres in Texas and Louisiana.
Patrick Chambless, Chief Financial Officer of CST, said: "We are excited to explore this opportunity to unlock this new potential dimension of our timberland asset. This agreement is part of CST’s broader commitment to delivering significant climate and environmental impacts, including through CCS, carbon removals, renewable energy development, mitigation banking and conservation easements.”
ABOUT CST
CST owns interests in more than 889,000 acres of timberlands located in Texas and Louisiana. For business inquiries, please contact [email protected].
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