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Carbonvert and Castex joint venture executes agreement for carbon storage

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Molly Cooper

Journalist at Tank Storage Magazine.

Carbon capture and storage project development and finance company, Carbonvert and operators, mineral buyers, and landowner, Castex Energy (through subdisary Castex Carbon Solutions) have announced the execution of an operating agreement with the State of Louisiana, USA to develop a 24,000 acre (97 million m2) of land situated in State waters, offshore Cameron Parish, to permanently store CO2.

TanksCastex’s operational, commercial and subsurface experience, combined with Carbonvert’s expertise in carbon capture and storage, position the Cameron Parish CO₂ Hub as a leading choice for regional emitters seeking efficient and sustainable decarbonisation solutions.

Carbonvert CEO, Alex Tiller, says: ‘We firmly believe our Cameron Parish offshore project will help shape Louisiana’s low carbon future.’

‘Castex and Carbonvert look forward to developing the first offshore CO₂ storage hub in Louisiana. Our Cameron Parish project combines premier geologic storage attributes with existing midstream infrastructure to provide a range of tailored solutions to the adjacent industrial corridors in need of economically viable CO₂ storage.’ adds Castex EVP & CFO Aaron Killian.

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