by Janet McGurty (S&P Global Platts) Ethanol carbon sequestration will lower CI; DGD renewable diesel expansion online end 2021; Renewable diesel sales expected to grow Valero sees growing demand for low-carbon fuels and will continue to seek out projects which reduce carbon intensity while delivering financial returns to their shareholders, CEO Joe Gorder said on the company’s April 22 first quarter results call.
“We have a clear recognition here that low-carbon fuels are going to be in much greater demand going forward,” he said.
“The interesting thing here from our perspective is that we’ve been able to come up with low-carbon fuel projects and projects that have enabled us to reduce the carbon intensity of some of our other fuels that have significant returns also,” he added.
Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now We have a clear recognition here that low-carbon fuels are going to be in much greater demand going forward, he said. The interesting thing here from our perspective is that we ve been able to come up with low-carbon fuel projects and projects that have enabled us to reduce the carbon intensity of some of our other fuels that have significant returns also, he added.
Valero in March announced it was joining with BlackRock Global Energy & Power Infrastructure fund and Navigator to build a carbon capture and storage pipeline system across the Midwest, which will connect to eight of its 13 ethanol plants and have the capacity to store 5 million mt of CO2 annually.
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In Texas, Valero Energy Corporation and BlackRock Global Energy & Power Infrastructure Fund III are partnering with Navigator Energy Services to develop an industrial scale carbon capture pipeline system. The initial phase is expected to span more than 1,200 miles of new carbon dioxide gathering and transportation pipelines across five Midwest states with the capability of permanently storing up to 5 million metric tons of carbon dioxide per year. Pending third party customer feedback, the system could be expanded to transport and sequester up to 8 million metric tons of carbon dioxide per year. Valero, the largest renewable fuels producer in North America, is expected to become an anchor shipper by securing a majority of the initial available system capacity. Navigator is expected to lead the construction and operations of the system and anticipates operations to begin late 2024. In the coming months, Navigator will seek additional commitments to utilize the remaining capacity via a
Valero Energy and BlackRock Partner for Industrial Scale Carbon Capture System
(Credit: Pixabay)
Valero Energy and BlackRock Global Energy & Power Infrastructure Fund III have announced that they are partnering with Navigator Energy Services to develop an industrial scale carbon capture pipeline system (CCS). The initial phase is expected to span more than 1,200 miles of new carbon dioxide gathering and transportation pipelines across five Midwest states with the capability of permanently storing up to 5 million metric tonnes of carbon dioxide per year.
Pending third party customer feedback, the system could be expanded to transport and sequester up to 8 million metric tonnes of carbon dioxide per year. Valero is expected to become an anchor shipper by securing a majority of the initial available system capacity. Navigator is expected to lead the construction and operations of the system and anticipates operations to begin late 2024. In the coming months, Navigator will seek addit