NextDecade Corporation (NASDAQ: NEXT) and Mitsubishi Heavy Industries America, Inc. (MHIA) announced April 14th they have signed an engineering services agreement (ESA) for the carbon capture technology that will be applied at NextDecade’s Rio Grande LNG project in Texas.
The agreement is for the design, license, and performance guarantee of the KM CDR ProcessTM that the Rio Grande project will deploy – Mitsubishi’s carbon capture technology.
“MHI Group’s carbon capture solution is an ideal complement to NextDecade’s proprietary processes. We look forward to working with MHI Group on the CCS project at Rio Grande LNG, which we expect to be the greenest LNG project in the world,” said NextDecade’s Chairman and CEO, Matt Schatzman.
“This will be the world’s first application of post-combustion capture for LNG, and we expect this initiative will contribute to realizing carbon neutrality in the years ahead. MHI Group is committed to being an innovative solution provider as the energy industry transitions to lower carbon options. We will work diligently with NextDecade to bring this project to fruition,” said Yoshihiro Shiraiwa, Mitsubishi’s President and CEO.
MHI Group has developed 13 carbon capture systems around the world. That includes the world’s largest post-combustion carbon capture facility located in Texas. Mitsubishi’s KM CDR ProcessTM is based on advanced and proven technology for recovering CO2 from various sources of flue gas.
NextDecade’s planned Rio Grande LNG project in the Port of Brownsville, Texas is considered to be the greenest LNG project in the world. It will capture and permanently store geologically more than five million tonnes of CO2 per year.
NextDecade Corporation has recently signed a term sheet with Occidental subsidiary Oxy Low Carbon Ventures (OLCV). OLCV will do the permanent geologic storage of the CO2 captured.
NextDecade is accelerating partnerships towards the development of the CCS project at Rio Grande LNG. That shows the company is committed of taking part in the energy industry transitions to lower carbon options.