Baton Rouge-based G2 Net-Zero is seeking $15 billion for a project to produce liquefied natural gas while capturing the emissions, says Chas Roemer, who chairs the company.
Roemer says investors who might otherwise be interested, and regulators that might be supportive, are wary of anything that requires a long-term commitment to fossil fuels.
“The technology we have is proven,” Roemer told the Baton Rouge Press Club today. “This is a way to take a fossil fuel and eliminate the emissions.”
The company currently has a small project that it is looking to scale up, Roemer says. Angele Davis, who was commissioner of administration for former Gov. Bobby Jindal, is CEO, the firm’s website shows.
“G2 Net-Zero is deploying best in class technologies and innovative protocols to generate electricity and industrial gases like argon, blue ammonia, hydrogen, nitrogen and oxygen by 2023,” the site states. “By 2027, G2 will be producing, transporting, processing, liquefying and exporting natural gas, all while leveraging the capture of 4 million tons of CO2.”
Roemer says G2 started out as a traditional liquefied natural gas company that was trying to figure out a way to reduce emissions. The project would capture the carbon emissions to be sold and shipped by pipeline.
“There are plenty of companies calling us every day about doing permanent storage of our carbon,” he says.
Critics worry that carbon capture and storage poses environmental risks without delivering the promised benefits. The technology also has been criticized for its reliance on methane infrastructure, according to the New York Times.
Read More:Baton Rouge firm seeking $15B for ‘net-zero LNG’ project
2022-11-14 21:16:24