NEXT Carbon Solutions and California Resources Corporation Agree to FEED Study
NextDecade Corporation (NEXT)
US:NASDAQ Investor Relations:
next-decade.com/investors
Company Research
Source: Business Wire
HOUSTON--(BUSINESS WIRE)--NEXT Carbon Solutions (NCS), a subsidiary of NextDecade Corporation (NASDAQ: NEXT) and California Resources Corporation (NYSE: CRC) today jointly announced the execution of an agreement (Agreement) to further explore the decarbonization of CRC’s Elk Hills Power Plant. Through the deployment of NCS’ proprietary post-combustion carbon capture processes for CRC’s CalCapture CCS+ project, the companies seek to capture and utilize the emissions from the Elk Hills Power Plant for permanent storage in oil producing reservoirs.Pursuant to the Agreement, NCS will perform a front-end engineering design (FEED) study for the post combustion capture and compression of up to 95% of the carbon dioxide (CO2) produced at the Elk Hills Power Plant, a 550-megawatt (MW) natural gas, combined-cycle power plant, located in Kern County, California. The FEED is projected to take approximately six (6) months to complete. During the FEED, NCS and CRC expect to finalize definitive
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