The world’s biggest oil and gas companies are jointly funding a new carbon capture and sequestration project in Indiana that is expected to be the largest in the United States.
The investment arm of the Oil and Gas Climate Initiative, which includes ExxonMobil, Chevron, Shell, BP and Total, is backing plans to develop a CCS project outside of West Terre Haute, Indiana.
The project, owned by Wabash Valley Resources, would redevelop a dormant integrated coal gasification combined cycle plant into an ammonia production facility that will capture CO2 and is expected to store 1.5-1.75 million tons per year.
The company says this will create the world's first ammonia produced with near zero carbon footprint, in turn lowering the carbon intensity of ethanol produced in the United States and making it economically more competitive in California and Europe.
The dollar figure of the OGCI investment was not disclosed.
The project was recently selected to receive funding from the Department of Energy as part of the Carbon Storage Program.