The US Department of Energy (DOE) has granted a "conditional commitment" to back almost $50 billion in loans to Lake Charles Methanol to build the world's first petroleum coke-to-methanol plant at Lake Charles, Louisiana. If it gets the go-ahead, the facility will create methanol, hydrogen and other chemicals, as well as capturing carbon for use in enhanced oil recovery in Texas. The plant could sequester 4.2 million metric tons of carbon dioxide annually, and may reduce greenhouse gas emissions by 36% compared to traditional methanol facilities.
The US Department of Energy (DOE) has granted a "conditional commitment" to back up to $2bn in loans to Lake Charles Methanol to build the world's first petroleum coke-to-methanol plant at Lake Charles, Louisiana. If it gets the go-ahead, the facility will create methanol, hydrogen and other chemicals, as well as capturing carbon for use in enhanced oil recovery in Texas. The plant could sequester 4.2 million metric tons of carbon dioxide annually, and may reduce greenhouse gas emissions by 36% compared to traditional methanol facilities.