TotalEnergies acquires Talos Low Carbon Solutions

After completion of the transaction, TotalEnergies will own a 25% share in the Bayou Bend project, alongside Chevron (50%, operator) and Equinor (25%). Bayou Bend project is a major CO₂ storage project located along the Texas Gulf Coast, close to the company’s assets in the region. TotalEnergies will also own a 65% operated interest in the Harvest Bend (Louisiana) project and a 50% interest in the Coastal Bend (Texas) project. With Coastal Bend and Harvest Bend being located farther away from the company’s other existing assets, TotalEnergies’ intention is to divest its interest in these two projects after closing.

The Bayou Bend project is a carbon transportation and storage solution for industrial emitters located in the Houston Ship Channel and Beaumont – Port Arthur region, one of the largest industrial corridors in the US. Comprising licenses dedicated to CO₂ storage, offshore and onshore, covering about 600 km², it could enable the storage of several hundred million tons of CO₂. Thanks to its location, its size and favourable geological characteristics, Bayou Bend is a world-class opportunity for the development of the CCS business.

"TotalEnergies is pleased to enter the Bayou Bend project through the acquisition of Talos Low Carbon Solutions. Ideally located close to our Port Arthur refinery and our petrochemicals assets in La Porte, this project will be instrumental for the reduction of direct emissions from our US operations. This transaction gives momentum to the decarbonisation of hard-to-abate US emissions and marks a milestone on our journey to get to Net Zero by 2050, together with society”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

Read the article online at: https://www.hydrocarbonengineering.com/the-environment/19032024/totalenergies-acquires-talos-low-carbon-solutions/