Company Goods could repurpose pipelines for carbon projects -govt

The headquarters of power pipeline operator Enterprise Products and solutions Associates observed in Houston, Texas, U.S. September 27, 2020. REUTERS/Gary McWilliams/File Image

Sign-up now for Cost-free unrestricted entry to reuters.com

HOUSTON, Dec 8 (Reuters) – Pipeline operator Enterprise Goods Companions could repurpose some of its huge U.S. network of electrical power pipelines for carbon capture and sequestration tasks, co-Chief Government Jim Teague said.

“We’re not heading to do it for the hell of it. There has to be a enterprise there,” Teague explained during remarks at the Environment Petroleum Congress on Wednesday. The meeting delivers together energy officials and policy makers to examine the long run of the oil and fuel marketplace.

Main oil corporations such as Exxon Mobil and Occidental Petroleum view carbon capture and sequestration as an emerging market prospect and that could reduced their carbon emissions.

Sign-up now for Absolutely free unlimited obtain to reuters.com

Teague, speaking at a panel with Charif Souki, chairman of liquefied organic fuel enhancement organization Tellurian, explained just one challenge with repurposing its oil and gasoline pipelines for this sort of assignments is lack of transparency in carbon pricing.

“I will not know what the selling price of carbon is,” he reported.

Souki mentioned “every person agrees carbon sequestration would be a fantastic issue, but lamented the prolonged permitting procedures for carbon injection wells, and reported absence of distinct regulatory pointers are a different hurdle.

“Just give me a body or regulation that tends to make it doable,” he reported.

Both equally guys pressured the job of oil and gas in assuaging poverty and admonished coverage decisions currently being floated by U.S. lawmakers, which includes reimposing a ban on exporting U.S. crude oil, which they said could hurt world strength markets.

“What I’m concerned about is dysfunctionality and people today not comprehending what our situation in the world…I’m worried about the is the deficiency of policy and the lack of intelligence heading into making coverage,” Souki reported.

Sign-up now for Free limitless entry to reuters.com

Reporting by Liz Hampton in Houston Modifying by David Gregorio

Our Requirements: The Thomson Reuters Believe in Rules.