Kimmeridge Carbon Solutions and Storegga partner to advance CCUS projects

Source: www.gulfoilandgas.com 11/29/2023, Location: North America

Kimmeridge Carbon Solutions, a private equity fund sponsored by private investment firm Kimmeridge Energy Management Company, LLC ("Kimmeridge"), and Storegga Limited ("Storegga") announced today the signing of a collaboration agreement aimed at advancing carbon capture and storage (CCUS) projects. The two companies will collaborate to identify, develop and deploy large-scale CCUS initiatives with the goal of significantly reducing carbon emissions. This collaboration harnesses Kimmeridge's US onshore experience, geotechnical expertise and industry relationships, coupled with Storegga's expertise in carbon value chains and in the development and commissioning of CO2 transportation and storage infrastructure.

The initial focus of the joint effort will be on projects in Wyoming, a state with Class VI primacy, suitable subsurface geology and industrial emitters looking to decarbonize. Kimmeridge and Storegga will also explore concepts proximal to locations where Kimmeridge has active hydrocarbon projects. A combined team of Storegga and Kimmeridge experts has advanced project analysis and engaged in discussions with both landowners and emitters.

Henry Makansi, Managing Partner at Kimmeridge, said, "CCUS will be a critical tool in reducing carbon emissions, particularly in difficult-to-abate sectors. With our subsurface expertise and research capabilities, we are increasingly focused on deploying this technology to meet the demands of net-zero goals. We are delighted to be working with Storegga to study opportunities and accelerate the development of successful and value-creating projects in the US."

Nick Cooper, CEO of Storegga, said, "This cooperation will marry Kimmeridge's local presence, relationships and expertise with Storegga's carbon knowledge and focus on decarbonizing industry and power."


United States >>  2/28/2024 - Jabil Inc. (NYSE: JBL) today released its fiscal year 2023 Sustainability Progress Report, detailing the significant progress the company has made tow...
Japan >>  2/27/2024 - ITOCHU Corporation (ITOCHU; President & COO: Keita Ishii; Head Office: Minato-ku, Tokyo), HIF Asia Pacific Pty Ltd , a wholly owned subsidiary of HIF ...

Sweden >>  2/27/2024 - In Jordbro outside Stockholm, Vattenfall plans to have a facility in place by 2028 that will be able to capture up to 150,000 tonnes of carbon dioxide...
United States >>  2/27/2024 - Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and a member of the Iberdrola Group, announced today that it has been named for the f...

United States >>  2/27/2024 -  Weyerhaeuser Company (NYSE: WY) and Lapis Energy LP ("Lapis") announced today the execution of an exclusive exploration agreement for subsurface carb...
Tanzania >>  2/23/2024 - Five exceptional African students are set to become sustainability changemakers as the first recipients of fully funded climate change scholarships fr...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.