Carbon capture storage project will hold CO2 underground in North Dakota
CASSELTON, ND (Valley News Live) – Summit Carbon Solutions announced Wednesday that Continental Resources Inc. will commit $250 million over the next two years to help fund the development and construction of a carbon capture and sequestration project. $4.5 billion carbon.
Summit is partnering with 31 ethanol plants in five states – Iowa, Minnesota, Nebraska, North Dakota and South Dakota – to build what they call the largest carbon capture and storage project of its kind in the world. Carbon dioxide from the ethanol plants will be transported through a 2,000-mile network of pipelines to North Dakota, where it will be permanently stored in underground rock formations.
North Dakota Governor Doug Burgum made the announcement March 3 along with Summit Agricultural Group CEO Bruce Rastetter, Continental Resources Chairman Harold Hamm and CEO Bill Berry at a press hosted by North Dakota entrepreneur Gary Tharaldson at the participating Tharaldson ethanol plant in Casselton. in the project.
“Combining the considerable resources and geological expertise of one of North Dakota’s most productive and pioneering oil and gas operators with this visionary carbon capture and storage model is a win-win solution for our farmers and our ethanol plants, environmental stewardship and energy security of the United States,” Burgum said. “By capitalizing on our geological jackpot of enormous underground storage capacity, we can safely store not only our own carbon dioxide, but also our neighbors’ CO2 while creating jobs, generating income for landowners land in North Dakota and strengthening our economy.”
Summit Carbon Solutions said the project is on track to be operational in the first half of 2024.
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