Hoeven: Green Plains to build carbon capture pipeline network for CO2 storage in ND
BISMARCK – Senator John Hoeven issued the following statement after Green Plains announced that it would develop a pipeline network, in partnership with Summit Agricultural Group and its subsidiary Summit Carbon Solutions, to capture and transport CO2 from its ethanol production facilities in Iowa to North Dakota for geologic storage. The system is projected to have capacity for 10 million tons of CO2 storage per year from up to 40 ethanol plants. Construction is scheduled to begin in 2023, following feasibility and permitting phases, and will support approximately 10,000 jobs.
Hoeven stressed that the project is made possible due to efforts at both the state and federal level to develop the right legal, tax and regulatory environment for carbon capture, utilization and storage (CCUS) technologies. This includes:
· Securing Environmental Protection Agency (EPA) approval for North Dakota to be the primary regulator over Class VI wells, which are used for geologic or long-term CO2 storage, the first such approval in the nation.
· Implementing and enhancing the 45Q tax credit, one of the most important incentives to make CCUS projects commercially-viable.
“For more than a decade, North Dakota has been setting the stage for CCUS efforts like Green Plains’ new pipeline network,” said Hoeven. “Major investments like this don’t just happen – it took the right legal framework, as well as regulatory and tax certainty. It started with our state’s CO2 storage task force in 2008, up through our recent work on the 45Q tax credit. That’s how we’ve been leading the way on CCUS, a true path forward for developing all of our nation’s energy resources, supporting both our economic and national security, while improving environmental stewardship.”
“We are excited to work with the state of North Dakota on this monumental new project,” said Bruce Rastetter, CEO of Summit Agricultural Group. “Not only are the geologic aspects of the state ideal for sequestering carbon, but the regulatory environment for expediting this type of project is welcoming. As Governor over a decade ago, Senator Hoeven laid the groundwork for sequestration of CO2, and has continued this critical work in the Senate by supporting the all-important 45Q tax credits and other CCUS-friendly policies.”