Ozona CCS partners with Marubeni to develop CCS projects in Texas, US [Yahoo! Finance]
MARUBENI CORP UNSP/ADR (MARUY)
NASDAQ:AMEX Investor Relations:
marubeni.com/ir
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Source: Yahoo! Finance
The JV aims to sequester CO2, with Marubeni providing support in various technical and financial aspects. Ozona has already identified several potential storage sites in the Eagleford trend through a thorough geological review. The company is currently in talks with large producers to manage CO2 emissions from natural gas treating plants. Marubeni will assist Ozona in acquiring pore space, permitting sequestration wells, and engineering necessary facilities and pipelines. This support is crucial to the development and operational success of the CCS projects. The first project under this partnership is expected to reach a final investment decision (FID) early in 2025, with operations commencing in the first quarter of 2026. Ozona co-CEO and COO Rich Adams said: “Marubeni brings a wide range of expertise and knowledge to our project. We are excited to jointly develop CCS facilities in South Texas and bring a complete and low-cost carbon sequestration solution to oil and gas p
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