CapturePoint LLC and CapturePoint Solutions LLC announced the signing of a revised Letter of Intent (LOI) with an affiliate of Energy Transfer LP that provides for the joint development of a carbon capture and permanent deep underground storage project in Louisiana. The companies also signed a definitive CO2 Offtake Agreement committing CO2 from Energy Transfer?s Haynesville natural gas treating facilities. The revised LOI and accompanying CO2 Offtake Agreement dedicate CO2 that would otherwise be emitted from Energy Transfer?s Haynesville natural gas midstream facilities to CapturePoint?s Central Louisiana Regional Carbon Storage Hub (CENLA Hub) and provide Energy Transfer the right to participate in a joint venture that will own and operate the CENLA Hub.

The LOI also provides a framework for CapturePoint and Energy Transfer to collaborate regarding the capture and sequestration of additional CO2 from other Energy Transfer facilities in Louisiana. The CENLA Hub is one of the largest onshore deep underground carbon storage centers under development in the United States with the capacity to permanently secure millions of tons of CO2 annually that would otherwise be released into the atmosphere. These agreements provide the foundation for the capture and storage of up to two million tons of CO2 annually at the CENLA Hub.

Recent test well data from the CENLA Hub demonstrates that the unique geology of the region could permanently sequester a total of several hundred million tons of CO2. The Louisiana Department of Natural Resources is currently reviewing CapturePoint?s permit applications for CENLA Hub Class VI CO2 injection sites in Vernon and Rapides Parishes.