Private equity-backed Momentum Midstream LLC said Thursday it is moving forward with the New Generation Gas Gathering (NG3) project in the Haynesville Shale.

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The project, which is meant to supply growing Gulf Coast and LNG export demand, is to have initial capacity of 1.7 Bcf/d, expandable to 2.2 Bcf/d. Momentum is a subsidiary of Encap Flatrock Midstream and other financial partners.

The NG3 project also would include a carbon capture and sequestration (CCS) component that will remove and permanently store underground 100% of the project’s carbon dioxide (CO2) emissions, creating a “net negative carbon footprint,” Momentum said. NG3 is slated to begin operating in the second half of 2024. 

Increasingly, U.S. producers and midstreamers are pursuing measures to reduce...