DALLAS, May 3, 2022
/PRNewswire/ -- EnLink Midstream Operating, LP (EnLink), a
subsidiary of EnLink Midstream, LLC (NYSE: ENLC), and Oxy Low
Carbon Ventures, LLC (OLCV), a subsidiary of Occidental (NYSE:
OXY), today announced they have executed a letter of intent for a
Transportation Services Agreement (TSA). Under the terms, EnLink
would provide CO2 transportation services for OLCV along
the Mississippi River corridor from Waggaman to Baton
Rouge in Louisiana.
EnLink would utilize existing and new build pipelines and
related infrastructure to transport CO2 from industrial
emitters to OLCV's planned sequestration facility in Livingston Parish, Louisiana, where OLCV has
secured a pore space lease of over 30,000 acres.
"We are pleased to be working with OLCV as we further EnLink's
goal to build and operate a CO2 network connecting
emitting facilities and sequestration sites across southern
Louisiana," said Barry E. Davis, EnLink Chairman and Chief
Executive Officer. "The Mississippi River corridor has one of the
highest concentrations of industrial CO2 emissions in
the U.S. and EnLink is uniquely positioned to serve customers in
the region given our extensive pipeline infrastructure already in
the ground."
OLCV, through its 1PointFive business unit, is developing
sequestration hubs on the Gulf Coast and across the U.S., some of
which are expected to be anchored by direct air capture (DAC)
facilities. The hubs will provide access to high quality pore space
and efficient transportation infrastructure, providing new carbon
management solutions.
"We look forward to working with EnLink as we advance
development of our sequestration hubs to provide industrial
emitters with end-to-end solutions to capture, transport and
permanently store CO2," said Richard Jackson, President, U.S. Onshore
Resources and Carbon Management, Operations, Oxy. "This
collaboration aligns with our strategy to accelerate the path to
net zero not only for ourselves but for other organizations along
the Mississippi River corridor looking to do the same."
About EnLink Midstream
EnLink Midstream reliably
operates a differentiated midstream platform that is built for
long-term, sustainable value creation. EnLink's
best-in-class services span the midstream value chain,
providing natural gas, crude oil, condensate, NGL
capabilities, and carbon capture, transportation, and
sequestration. Our purposely built, integrated asset platforms are
in premier production basins and core demand centers, including the
Permian Basin, Oklahoma,
North Texas, and the Gulf
Coast. EnLink's strong financial foundation and
commitment to execution excellence drive competitive returns and
value for our employees, customers, and investors. Headquartered in
Dallas, EnLink is publicly traded
through EnLink Midstream, LLC (NYSE:
ENLC). Visit www.EnLink.com to learn how EnLink
connects energy to life.
About Oxy Low Carbon Ventures
Oxy Low Carbon Ventures,
LLC (OLCV) is a subsidiary of Occidental (Oxy), an international
energy company with assets primarily in the United States, the Middle East and North Africa. OLCV is focused on advancing
cutting-edge, low-carbon technologies and business solutions that
enhance Oxy's business while reducing emissions. OLCV also invests
in the development of low-carbon fuels and products, as well as
sequestration services to support carbon capture projects globally.
Visit Carbon Innovation on oxy.com for more information.
Forward-Looking Statements
This press release
contains "forward-looking statements" within the meaning of the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical fact, included herein that address activities, events,
developments or transactions that EnLink Midstream and Oxy expect,
believe or anticipate will or may occur in the future are
forward-looking statements. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from expectations, including required approvals
by regulatory agencies, the possibility that the anticipated
benefits from such activities, events, developments or transactions
cannot be fully realized, the possibility that costs or
difficulties related thereto will be greater than expected, the
impact of competition, and other risk factors included in EnLink
Midstream's and Oxy's respective reports filed with the U.S.
Securities and Exchange Commission. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Except as required
by law, EnLink Midstream and Oxy do not intend to update or revise
their respective forward-looking statements, whether as a result of
new information, future events or otherwise.
Investor Relations: Brian
Brungardt, Director of Investor Relations, 214-721-9353,
brian.brungardt@enlink.com
Media Relations: Jill
McMillan, Vice President of Strategic Relations &
Public Affairs, 214-721-9271, jill.mcmillan@enlink.com
Investor Relations: Jeff
Alvarez, Vice President, Investor Relations, 713-215-7864,
jeff_alvarez@oxy.com
Media Relations: Eric Moses,
Vice President, Corporate Affairs, 713-497-2017,
eric_moses@oxy.com
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SOURCE EnLink Midstream Operating, LP