The Port of Corpus Christi and the Texas General Land Office (GLO) have announced an agreement to develop carbon storage solutions in the Coastal Bend region along the Gulf of Mexico.
The partnership aims to build infrastructure that will capture and permanently store carbon dioxide produced during oil and natural gas development in the Corpus Christi area, where dozens of industrial, petrochemical, and refining facilities are located.
"We have a high density of industrial CO2 target sources, a robust network of existing pipeline infrastructure, and we own a full transect of land from our customers' fence lines out to GLO waters in the Gulf of Mexico," Jeff Pollack, the port's chief strategy and sustainability officer, said in a statement Wednesday.
According to the International Energy Agency (IEA), heavy industries account for almost 20% of global CO2 emissions.
The IEA is an intergovernmental organization focused on global energy policies. The organization was founded in 1974 and is based in Paris.
"Carbon capture, utilization, and storage (CCUS) is virtually the only technology solution for deep emissions reductions. It is also the most cost-effective approach in many regions to curb emissions in iron and steel and chemicals manufacturing," according to an IEA report from April.
There are currently four CCUS facilities in Texas, including the Century gas processing plant in Odessa, Terrell natural gas processing plant in Fort Stockton, Petra Nova carbon capture facility in Houston and Air Products steam methane reformer in Port Arthur, according to IEA.
The agreement between the Port of Corpus Christi and GLO did not specify what type of infrastructure would be built, how much it would cost, or a timeline for the project.
Carbon capture technology and facilities can range from several million up to $350 million or more, according to IEA.
The Port of Corpus Christi is part of the larger Houston-Galveston Customs District, which includes the area stretching along the Gulf Coast from Corpus Christi to Galveston, and inland from Freeport north to Houston Intercontinental Airport.
The Port of Corpus Christi logged mixed results during July, reporting it moved more than 13 million tons of cargo, a 4% increase from the same period in 2020.
Shipments of bulk grain declined 23% year-over-year (YoY) to 218,720 tons, chemicals declined 19% YoY to 160,194 tons, crude oil declined 8% YoY to 7.9 million tons, and bulk grain declined 6% YoY to 32,626 tons.
The largest gains came from a 100% YoY increase from an import shipment of 12,661 tons of liquid bulk, compared to zero imports of liquid bulk during the same month last year.
Shipments of petroleum increased 37% YoY during July to 4.5 million tons, and dry bulk increased 10% YoY to 640,044 tons.
Total vessel calls for July declined about 1% to 603: 422 barges and 181 ships. Total vessel calls year-to-date are 4,000 barges and ships, a 2.3% decline from the same period in 2020.
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