TotalEnergies has entered into an agreement to acquire Talos Low Carbon Solutions (TLCS), a US company specialising in carbon capture and storage technology.
Upon completion, TotalEnergies will own 25% of the Bayou Bend project in Texas, alongside Chevron (50%, operator) and Equinor (25%).
The Bayou Bend project, located in a major industrial corridor in the US, aims to store carbon from industrial emitters through underground storage permits covering approximately 600 square kilometres.
TotalEnergies will also hold interests in the Harvest Bend project in Louisiana and the Coastal Bend project in Texas, intending to sell its stakes in these projects due to their distance from existing assets.
Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, said: “TotalEnergies is delighted to be part of the Bayou Bend project through the acquisition of TLCS.
“Conveniently located near our Port Arthur refinery and La Porte petrochemical assets, this project will play a key role in reducing direct emissions from our US operations.”
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