Equinor Builds in U.S. by Joining Chevron, Talos in Texas Carbon Capture Project

Equinor ASA, whose broad U.S. portfolio stretches from Appalachia into the Gulf of Mexico, is snapping up a quarter-stake in the Chevron Corp.-led Bayou Bend CCS LLC, positioned to be one of the largest carbon capture, utilization and storage (CCUS) projects on the Texas coast.

In the agreement with Texas Carbon 1 LLC, a subsidiary of original sponsor Carbonvert, Equinor would become a joint venture partner with Chevron U.S.A. Inc., through its Chevron New Energies division, and Talos Energy Inc., through its Talos Low Carbon Solutions division. 

Chevron operates the CCUS project with a half-interest, while Talos has a 25% stake.

Commercial CCUS solutions “are critical for hard-to-abate industries to meet their climate ambitions while maintaining their activity,”...