The US Department of Energy (DOE) has offered a conditional commitment to guarantee loans of up to $2bn to Lake Charles Methanol, LLC to construct the world’s first methanol production facility to employ carbon (CO2) capture technology in Lake Charles, Louisiana.
The captured CO2 would be utilised for enhanced oil recovery (EOR) in Texas.
By using petcoke as the feedstock and employing CO2 capture at the project, the proposed project will reduce emissions of CO2 that would otherwise be released.
US Secretary of Energy, Ernest Moniz, said, “This conditional commitment represents a major milestone in the Department’s efforts to scale up CO2 capture utilisation and sequestration and continue American leadership in advanced fossil energy technologies.”
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