DALLAS, Oct. 12,
2022 /PRNewswire/ -- EnLink Midstream, LLC (NYSE:
ENLC) (EnLink) announced today that it has entered into a
transportation service agreement (TSA) with a subsidiary of
ExxonMobil Corporation (NYSE: XOM) (ExxonMobil). Under the terms of
the TSA, EnLink will utilize portions of its existing pipeline
network, as well as new facilities, to deliver carbon dioxide
(CO2) from the Mississippi River corridor in
southeastern Louisiana to
ExxonMobil's 125,000-acre CO2 storage location under
development in Vermilion
Parish.
The TSA includes industry-standard terms and conditions for the
provision of transportation services. Ultimate available reserved
capacity under the agreement is up to 10 million metric tonnes per
year, with initial reserved capacity of 3.2 million metric tonnes
per year, beginning early 2025.
"EnLink is executing on our first-mover advantage to become the
CO2 transportation provider of choice in Louisiana," EnLink Chief Executive Officer
Jesse Arenivas said. "Utilizing our
extensive network enables us to provide the most timely and
cost-effective solution to CO2 transportation, with a
significantly lower environmental impact.
"EnLink is uniquely positioned to serve customers in the region
given our extensive pipeline infrastructure already in the ground.
The Mississippi River corridor emits approximately 80 million
metric tonnes of CO2 per year and has one of the highest
concentrations of industrial CO2 emissions in
the United States. Carbon capture projects like this will help
EnLink's customers and the State of
Louisiana reach their decarbonization goals, and we're
excited to be a part of this unique project."
"This landmark project represents large scale, real world
progress on the journey to decarbonize the global economy," said
Dan Ammann, president of ExxonMobil
Low Carbon Solutions. "ExxonMobil is providing a critical and
scalable solution to reduce CO2 emissions, and we're
ready to offer the same service to other large industrial customers
in the state of Louisiana and
around the world."
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 ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy and petrochemical companies, creates solutions that improve
quality of life and meet society's evolving needs.
The corporation's primary businesses - Upstream, Product
Solutions and Low Carbon Solutions - provide products that enable
modern life, including energy, chemicals, lubricants, and
lower-emissions technologies. ExxonMobil holds an industry-leading
portfolio of resources, and is one of the largest integrated fuels,
lubricants and chemical companies in the world. To learn more,
visit exxonmobil.com and the Energy Factor.
Follow us on Twitter and LinkedIn.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of the federal securities laws. All statements, other
than statements of historical fact, included in this press release
constitute "forward-looking statements". Although these statements
reflect the current views, assumptions, and expectations of
EnLink's management, the matters addressed herein involve certain
assumptions, risks, and uncertainties that could cause actual
activities, performance, outcomes, and results to differ materially
from those indicated. Such risks and uncertainties include,
but are not limited to, risks and uncertainties related to EnLink's
operations, the construction and operation of new facilities, and
compliance with regulatory and permitting requirements. An
extensive list of factors that can affect EnLink's business and
operations are discussed in EnLink's filings with the Securities
and Exchange Commission, including EnLink's Annual Reports on Form
10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form
8-K. EnLink does not assume any obligation to update any
forward-looking statements.
Investor Relations: Brian
Brungardt, Director of Investor Relations,
214-721-9353, brian.brungardt@enlink.com
Media Relations: Megan
Wright, Director of Corporate Communications,
214-721-9694, megan.wright@enlink.com
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SOURCE EnLink Midstream, LLC