$NEXT & OLCV Sign Term Sheet for CO2 Transportation and Storage

NextDecade, Oxy Low Carbon Ventures Sign Term Sheet for CO2 Transportation and Storage in South Texas

today announced that they have executed a term sheet for the offtake and permanent geologic storage of CO2 captured from NextDecade’s planned Rio Grande LNG project in the Port of Brownsville, Texas.

Under the terms of the agreement, OLCV will offtake and transport CO2 from the Rio Grande LNG project and permanently sequester it in an underground geologic formation in the Rio Grande Valley, where there is vast CO2 storage capacity, pursuant to a CO2 Offtake Agreement and a Sequestration and Monitoring Agreement to be negotiated by the parties.

finance.yahoo.com/news/nextdecade-oxy-low-carbon-ventures-204500379.html