Overseas Shipholding Gets U.S. Grant for Intermodal Carbon Hub
December 21 2023 - 2:10PM
Dow Jones News
By Sabela Ojea
Overseas Shipholding Group has been awarded a $400,000 grant
from the U.S. Department of Energy to develop a proposed regional
intermodal carbon hub in Florida.
The provider of energy transportation services on Thursday said
that the hub, to be located in Tampa, would receive, store, and
process two million metric tons of CO2 a year.
The CO2 would be transported by Overseas Shipholding's vessels
across the Gulf of Mexico for permanent underground storage.
"This storage and transport hub will be the first of its kind in
the nation and could be scaled to meet expanded volumes of captured
CO2," the company said, noting that the hub would also help Florida
face climate change.
The Energy Department is encouraging the development of carbon
capture and storage systems as part of the U.S. goal to achieve net
zero greenhouse gas emissions by no later than 2050.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
December 21, 2023 14:55 ET (19:55 GMT)
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