Construction of what is expected to be the
largest post-combustion carbon capture system in the world is
officially underway
The Deputy Secretary of Energy and Lieutenant Governor of Texas
joined together with executives of NRG Energy, Inc. (NYSE:NRG), JX
Nippon Oil & Gas Exploration Corporation and HilCorp Energy
Company to mark the construction of the WA Parish Petra Nova Carbon
Capture Project (The Project).
The W. A. Parish power plant on Friday
Sept. 5, 2014 in rural Fort Bend County, TX. Ground was broken
today on the Petra Nova Carbon Capture site, the world's largest
post-combustion carbon capture-enhanced oil recovery project.
(Photo by Eric Kayne/Invision for NRG/AP Images)
Using proven technology, the Project will be a commercial-scale
carbon capture system that is expected to capture 90% of the carbon
dioxide (CO2) in the processed flue gas from an existing unit at
the WA Parish power plant in Fort Bend County, southwest of
Houston. When complete in 2016, the Project is expected to be the
world’s largest post-combustion carbon capture facility installed
on an existing coal plant.
Those attending the ground breaking included:
- David Crane, President and CEO of NRG
Energy
- Daniel Poneman, Deputy Secretary of
Energy, United States Department of Energy
- David Dewhurst, Lieutenant Governor of
Texas
- Shunsaku Miyake, Representative
Director, President and CEO of JX Nippon Oil & Gas Exploration
Corporation
- Jeff Hildebrand, founder, Chairman and
CEO, HilCorp Energy Company
During the ceremony, these leaders of industry and government
commented on the importance of the Petra Nova project to the energy
and environment in decreasing greenhouse gas emissions, making
America’s and the world’s most abundant fuel source significantly
more sustainable and reducing our dependence on foreign oil.
“Fossil fuels are essential to energizing modern civilization
today and for many decades to come. The best way for us to
avoid the harmful consequences of emitting carbon into the
atmosphere is to turn it into a productive asset here on Earth,”
said David Crane, president and CEO of NRG. “By piping
captured carbon exhaust into domestic oil fields, we both protect
the environment and enhance domestic oil production benefitting our
national energy security.”
“What is happening here today has global implications from an
economic perspective, energy security perspective, and
environmental stewardship perspective, and that's why it is so
important to take the global lead on this post-combustion CCS
technology,” said Daniel Poneman, Deputy Secretary of Energy.
“This project is yet another example of why Texas is the
nation's energy leader,” said David Dewhurst, Lieutenant Governor
of Texas. “In Texas, we celebrate those forward thinkers willing to
risk their own capital in pursuit of innovation that maximizes
efficiencies, yields jobs and moves America closer to energy
independence.”
“The Project is pioneering in that it not only utilizes CO2
emissions from a coal-fired power plant, but also boosts the oil
production, and ultimately reduces CO2 released into the air. Put
simply, it addresses a global environmental issue,” said Shunsaku
Miyake, President and CEO of JX Nippon Oil & Gas Exploration
Corporation. “We are confident that this Project and our
relationship with NRG will enhance the cooperative relationship
between the US and Japan from an environmental and economic
perspective.”
“We as a company are very proud of the fact that we are
associated with such a forward thinking and innovative project,”
said Jeff Hildebrand, founder, Chairman and CEO, HilCorp Energy
Company.
“Unconventional partnerships have driven innovation and
disrupted the old ways of seeing things to create a project that
could change the world,” said John Ragan, President of Petra
Nova.
CO2 captured from the plant will be compressed and piped
approximately 80 miles to the West Ranch oil field, jointly owned
by NRG, JX and Hilcorp. Through Enhanced Oil Recovery (EOR), the
captured CO2 is expected to create a revenue stream for the Project
by increasing domestic oil production from around 500 barrels per
day to approximately 15,000 barrels per day.
About NRG
NRG is leading a customer-driven change in the U.S. energy
industry by delivering cleaner and smarter energy choices, while
building on the strength of the nation’s largest and most diverse
competitive power portfolio. A Fortune 250 company, we create value
through reliable and efficient conventional generation while
driving innovation in solar and renewable power, electric vehicle
ecosystems, carbon capture technology and customer-centric energy
solutions. Our retail electricity providers serve almost 3 million
residential and commercial customers throughout the country. More
information is available at www.nrg.com. More information about
NRG’s carbon capture project can be found at
http://www.nrg.com/business/wholesale/carbon-capture/. Connect with
NRG Energy on Facebook and follow us on Twitter @nrgenergy.
About JX Nippon Oil & Gas Exploration Corporation
JX Nippon Oil & Gas Exploration Corporation is a core
business company that engages in oil and natural gas exploration
and production (E&P) business in the JX Group. The JX Group is
the leading “integrated energy, resources and materials business
group” in Japan and has net sales of approximately $120 billion. We
are currently expanding crude oil and natural gas E&P business
in 14 countries around the world. In the U.S., we hold assets in
the Gulf of Mexico, which range from the continental shelf to deep
water area, in addition, in Canada, participate in the Syncrude
Project that produces synthetic crude oil from oil sand, and
operate them at Houston office. More information is available at
www.nex.jx-group.co.jp/english.
About Hilcorp
Hilcorp, founded in 1989, is one of the largest privately-held
independent oil and natural gas exploration and production
companies in the United States. Hilcorp is consistently ranked as
one of the top places to work in America by multiple regional and
national publications. Headquartered in Houston, TX, with over 1200
employees, Hilcorp has operations across the United States
including the Gulf Coast of Texas and Louisiana, Northeast US and
Alaska’s Cook Inlet.
Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements are subject to certain risks, uncertainties and
assumptions and include NRG’s expectations regarding the
post-combustion carbon capture unit at NRG’s WA Parish plant and
forward-looking statements typically can be identified by the use
of words such as “expect,” “believe,” and similar terms. Although
NRG believes that its expectations are reasonable, it can give no
assurance that these expectations will prove to have been correct,
and actual results may vary materially. Factors that could cause
actual results to differ materially from those contemplated above
include, among others, general economic conditions, hazards
customary in the power industry, competition in wholesale power
markets, the volatility of energy and fuel prices, failure of
customers to perform under contracts, changes in the wholesale
power markets, changes in government regulation of markets and of
environmental emissions, and our ability to achieve the expected
benefits and timing of the carbon capture-EOR projects. NRG
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. The foregoing review of factors that could cause
NRG’s actual results to differ materially from those contemplated
in the forward-looking statements included in this news release
should be considered in connection with information regarding risks
and uncertainties that may affect NRG’s future results included in
NRG’s filings with the Securities and Exchange Commission at
www.sec.gov.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20140905005840/en/
NRG Media:Karen Cleeve, 609-524-4608orDavid Knox,
832-357-5730orNRG Investors:Chad Plotkin, 609-524-4526orDaniel
Keyes, 609-524-4527orJXTsutomu Okada, +81-3-6275-5241Manager,
Public RelationsorNaoyuki Ushijima, +81-3-6275-5241Senior Staff,
Public RelationsorHilCorpJustin Furnace, 713-289-2735
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