Strategic Biofuels scores legislation to support its Louisiana Green Fuels project

In Louisiana, Strategic Biofuels announced that the State of Louisiana recently enhanced its nation-leading carbon capture and sequestration (CCS) legislation with provisions that provide additional carbon dioxide (CO2) reservoir storage security for projects in Caldwell Parish, the site of Strategic Biofuels’ Louisiana Green Fuels (LGF) Project.

The Parish-specific legislation, which goes into effect on August 1, 2022, extends the eminent domain acquisition of the pore rights for underground CO2 storage with a prohibition of third-party drilling through the storage reservoir. This drilling ban substantially reduces the risk of stored CO2 leakage. This legislation was passed unanimously by both houses of Louisiana’s State Legislature and signed into law by Governor John Bel Edwards as Act 163 on May 26, 2022. It received support from both the Louisiana Oil & Gas Association and the Louisiana Mid-Continent Oil & Gas Association.