240 MW CCS Petra Nova starts commercial operation
Worlds largest Carbon capture and Storage (CCS) project, Texas-based 240 MW Petra Nova, commenced commercial operation after weeks of testing. Construction was completed on-budget and on-schedule. The unit removes 90% of CO2 emissions and stores it in the West Ranch field through a 130 km pipeline. It is estimated that by pumping CO2, further 60 million barrels of oil can be pulled out of the field. Mitsubishi Heavy Industries was the technology developer. $1 billion project was financed by several entities such as the Japan Bank for International Cooperation (JBIC), Mizuho Bank, Nippon Export and Investment Insurance. It also received a $167 million grant by the US Department of Energy.
Source: Power Magazine