This week, Buckeye Partners announced the acquisition of carbon capture and storage (CCS) solutions provider Elysian Carbon Management.
Elysian Carbon Management specializes in providing integrated end-to-end CCS solutions for industrial and power facilities that aim to shift towards more sustainable practices and align with environmental, social and governance (ESG) targets.
The company’s services include everything from capturing CO2 from flue gases, compression, transportation, as well as permanent storage in geological formations.
In turn, as one of the leading infrastructure and logistics providers, this recent acquisition will help Buckeye adapt to the changing needs of its customers in the context of the energy transition.
Buckeye CEO Todd Russo said: “Rapidly developing CCS-related technologies and solutions offer abundant synergies across Buckeye’s project development capabilities and existing pipeline network and are essential to enabling the energy transition’s success. We’re excited for the Elysian team to join the Buckeye platform and to integrate their expertise to better serve our customers’ growing lower-carbon needs.”
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The acquisition of Elysian is also very much in line with Buckey’s ambition of becoming a net zero energy business as early as 2040 (Scope 1 and 2 emissions).
Elysian CEO Bret Logue also commented on the acquisition by saying: “Buckeye continues to demonstrate resiliency and emissions-reduction results across its increasingly diversified energy solutions portfolio.”
“We’re fully aligned with their decarbonization mission and look forward to adding immediate value to Buckeye’s customer base and their momentum in the energy transition by integrating CCS technologies across the energy value chain,” Logue concluded.
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