CF Industries Partners With ExxonMobil on CO2 Storage in Louisiana

CF Industries Partners With ExxonMobil on CO2 Storage in Louisiana

CF Industries Partners With ExxonMobil on CO2 Storage in Louisiana

October 14, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) will store up to 2 million metric tons per year of captured carbon dioxide (CO2) emissions from CF Industries Holdings Incorporated's (NYSE:CF) (Deerfield, Illinois) manufacturing complex in Louisiana under a deal announced this week.

CF Industries, which produces hydrogen and nitrogen products, is investing $200 million to build a CO2 dehydration and compression unit at its Donaldsonville, Louisiana, nitrogen complex to enable captured CO2 to be transported and stored. Under the deal announced on Wednesday, ExxonMobil will transport and permanently store the captured CO2 in the company's geologic storage it owns in Vermilion Parish. As part of the project, ExxonMobil has signed an agreement with EnLink Midstream (NYSE:ENLC) (Dallas, Texas) to use EnLink's transportation network to deliver CO2 to permanent geologic storage. Operational start-up for the storage facility is scheduled for early 2025.

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