THOMPSONS, FORT BEND COUNTY - Petra Nova Holdings LLC has formed a 50/50 joint venture with a subsidiary of JX Nippon Oil & Gas Exploration Corp. to build a $1 billion carbon capture project near Houston.
The Petra Nova Carbon Capture Project will capture 90 percent, or 1.6 million tons, of the carbon dioxide (CO2) in the 240-MW slipstream of processed flue gas from the 610-MW Unit 8 at the W.A. Parish coal-fired power plant.
The captured CO2 will be used in enhanced oil recovery at the West Ranch oilfield, owned by the joint venture and Hilcorp Energy Co.
Construction on the project has already started and is expected to take two years. The unit is expected to be operational by the end of 2016.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.