Canada’s Pieridae Energy has revealed a carbon capture and storage project as it looks to make a final investment decision on its Goldboro LNG export terminal in Nova Scotia.
Pieridae said on Thursday it plans to build the Caroline Carbon Capture Power Complex at its Caroline facility in Alberta.
The complex would include large-scale carbon capture and sequestration but also blue power production.
“This development supports independent, third-party research Pieridae commissioned last year which highlights pathways to achieving net-zero emissions by 2050 for the proposed Goldboro LNG project,” the firm said.
To remind, Pieridae recently said it still expects to make a final investment decision on its Goldboro LNG export terminal in Nova Scotia by June 30, after postponing the decision last year.
Pieridae aims to build a facility with two 5.2 mtpa trains that would employ about 3,500 workers during the peak construction phase. The project’s total costs could reach $10 billion.
The firm has a 20-year binding contract with German energy firm Uniper for all of the volumes from the first liquefaction train.
Three million tonnes of CO2
The new complex will have the ability to sequester up to three million tonnes of CO2 annually into one of the Caroline facility’s depleted gas reservoirs.
This amount of carbon captured equals the annual emissions from the Goldboro LNG facility, Pieridae said, adding that over the life of the project, that’s close to 100 million tonnes of CO2.
“We know the world is looking for ways to transition to a lower-carbon intensity economy. By capturing and storing carbon on such a large scale, we move further down the strategic path of ensuring Pieridae is net carbon negative across its value chain from the wellhead to LNG delivery into Europe,” Pieridae’s CEO Alfred Sorensen, said.
Joining forces with several industry partners
The complex will capture carbon from three sources: CO2 generated at the gas processing facility, CO2 generation from power production and CO2 produced by third parties.
In addition, the facility would have a maximum power production capacity at full build-out of 7.9 billion kilowatt-hours annually, Pieridae said.
The company will reuse and re-purpose existing infrastructure at its Caroline facility to reduce overall capital costs and environmental impact.
Pieridae said it would join forces with several industry partners on the project and expects one of those partners to be an Alberta First Nations development group.
The first phase of the complex will sequester one million tonnes of CO2 and produce approximately 200 MW or 1.9 billion kilowatt-hours of blue power annually, enough to power 112,000 households each year, according to Pieridae.
Sequestering three million tonnes of CO2 per year would be the equivalent of taking more than 650,000 cars off the road each year or eliminating 4.4 billion kilowatt-hours of coal-fired power annually, it said.