Houston-based Buckeye Partners LP on Monday said it would buy Elysian Carbon Management in a sign that mirrors ExxonMobil’s recent decision to snap up Denbury Inc. to expand carbon capture services.

Buckeye said it would take over Elysian from EnCap Flatrock Midstream for an undisclosed amount. Elysian provides integrated end-to-end carbon capture and storage (CCS) solutions to industrial and power facilities.

“This acquisition reflects Buckeye’s commitment to continue to provide essential infrastructure and logistics solutions to meet our customers’ evolving needs in the energy transition,” CEO Todd Russo said. “Rapidly developing CCS-related technologies and solutions offer abundant synergies across Buckeye’s project development capabilities and existing pipeline...