Page 13 - NorthAmOil Week 23 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

ENERGY TRANSITION

Talos Energy and Storegga

form carbon capture and
storage joint venture

focused on the US Gulf

Coast and Gulf of Mexico

Talos Energy today announced that it has
formed an exclusive joint venture with
Storegga Geotechnologies to source, evaluate
and develop carbon capture and storage
(CCS) project opportunities on the United
States Gulf Coast and Gulf of Mexico
(GoM), including state and federal waters
offshore Texas, Louisiana, Mississippi and
Alabama. The partners are actively exploring
opportunities with counterparties along the
CCS value chain.
Under the joint venture framework, the
considerable savings in transportation costs, Nation, Chief Councillor. “Pembina’s long partners, in collaboration, will originate
even greater certainty of supply and reduced history of safe, reliable operations, and and mature CCS ventures with emitters,
GHG emissions from trucking.” engagement with local communities made infrastructure providers, service companies
“We are excited to open this new them the distinct choice for Cedar LNG. and financing partners, among others. The
production facility in Fort Nelson. We With a strong partnership, Cedar LNG will joint venture combines the strengths of
appreciate the support in realizing this project bring tremendous economic opportunities Talos’ offshore operational and sub-surface
from the Fort Nelson First Nations and the and benefits ensuring the Haisla people have expertise with Storegga’s leading end-to-end
community of Fort Nelson. We look forward control of our own future.” CCS project experience. Under the terms of
to delivering natural gas to our remote “This partnership is the result of the agreement, as individual CCS projects are
customers lowering energy costs and reducing meaningful collaboration with the Haisla matured in the future, each will be ring-fenced
carbon emissions,” states Calum McClure, Nation to deliver responsibly-developed, with separate operating agreements, financing
CEO of Cryopeak. world-class energy,” said Stu Taylor, Pembina’s structures and the possibility of additional
CRYOPEAK LNG SOLUTIONS, June 08, 2021 Senior Vice President, Marketing and New working interest partners. The agreement
Ventures & Corporate Development Officer. requires zero up front capital commitments,
Haisla Nation partners “We believe that environmental stewardship, and the partnership will share costs 50/50 in
Indigenous prosperity and inclusion, and
the initial phases. Talos is designated as the
with Pembina Pipeline in mutual economic benefit are the cornerstones operating partner of the joint venture.
Storegga is a European leader in CCS
of future energy infrastructure development
proposed Cedar LNG project in Canada, and we are honoured to have the as a lead developer of the Acorn CCS and
Acorn Hydrogen Projects and also is actively
opportunity to work with the Haisla Nation to
The Haisla Nation and Pembina Pipeline are produce Canadian LNG.” developing a cutting edge direct carbon air
pleased to announce a partnership agreement Pembina’s president and chief executive capture (DAC) project. The Acorn project is
whereby Pembina will become the Haisla officer, Mick Dilger, added, “We have worked the most advanced large-scale CCS project
Nation’s partner in the development of the with the Haisla Nation on and off for over in the United Kingdom with final investment
proposed Cedar LNG project. The project is a decade with three different Haisla Nation decision (FID) expected in 2022. As one of
strategically positioned to leverage Canada’s leaders, maintaining a positive relationship the leading independent operators in the Gulf
abundant natural gas supply and British throughout that time. I am simply delighted Coast and GoM, Talos’ core skill set naturally
Columbia’s growing liquefied natural gas that this long-term relationship has led us to complements CCS project requirements,
(LNG) infrastructure to produce industry- this tremendous opportunity to finally partner particularly with respect to CO2 injection and
leading low–carbon, low-cost Canadian LNG with the Haisla Nation. At Pembina, our goal storage, including geology and geophysics,
for overseas markets. Cedar LNG will be the is to leave communities in a better situation reservoir engineering, drilling and completion
largest First Nation-owned infrastructure than we find them, which is what we have operational excellence, regulatory processes
project in Canada and will have one of the recently done in Prince Rupert, and what we and inland water and offshore logistics.
cleanest environmental profiles in the world. will do here. This Project will bring a second TALOS ENERGY, June 08, 2021
“It was important for us to find a partner product to global markets, consistent with our
with the same values of environmental stated strategy, with more to come.”
protection and community-centered THE HAISLA NATION AND PEMBINA PIPELINE,
development,” said Crystal Smith, Haisla June 08, 2021

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