2022-05-18 17:03:58 DEN Denbury
Nutrien
05/18/22 05/1817:03 05/18/2217:03 | Denbury, Nutrien enter agreement for transportation and storage of CO2Denbury Carbon Solutions, a wholly owned subsidiary of Denbury (DEN) and PCS Nitrogen Fertilizer, a wholly owned subsidiary of Nutrien (NTR) announced that the parties have reached a term-sheet agreement under which Denbury would transport and store carbon dioxide captured from Nutrien's potential new clean ammonia project at its Geismar, Louisiana location. Nutrien is evaluating its Geismar, Louisiana, ammonia facilities as a potential site for new ammonia production to serve growing demand in agriculture, industrial and emerging energy markets. Nutrien is progressing the proposed project to the front-end engineering design phase, with a final investment decision expected to follow in 2023 and, if approved, full production by 2027. The new plant is expected to have annual production capacity of 1.2M metric tons of clean ammonia, with approximately 1.8M metric tons per year of CO2 to be captured. Under the terms of the agreement, Nutrien would pay Denbury for the transportation and sequestration of the associated CO2 into Denbury's secure underground containment sites. The initial term of the agreement is 12 years, with up to two extension terms of five years each. Denbury
Nutrien
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