Valero Joins Summit’s Carbon Capture Project

Valero Energy Corp (VLO.N) has partnered with Iowa-based Summit Carbon Solutions in its proposed carbon-capture and storage project, as announced by the private company on Monday.

Valero intends to transport greenhouse gases from eight of its ethanol plants via Summit’s proposed pipeline, facilitating the capture of 3.1 million metric tons of carbon dioxide (CO2) annually.The participation of Valero follows the recent inclusion of the world’s largest ethanol producer, POET LLC, in the multi-state pipeline project.

Despite growing industry support, the project has encountered opposition from landowners along its route. Concerns include fears of potential carbon dioxide leaks, damage to farmland, and the possibility of land being acquired under eminent domain for pipeline construction.

Source: Reuters