EnLink Midstream Exploring Additional Carbon Transportation Opportunities with ExxonMobil to Reduce Emissions in the Gulf Coast

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Feb 20, 2024, 17:05 ET

DALLAS, Feb. 20, 2024 /PRNewswire/ -- EnLink Midstream, LLC (NYSE: ENLC) (EnLink) announced today that ExxonMobil and EnLink are exploring opportunities for EnLink to support ExxonMobil's carbon capture and sequestration (CCS) efforts beyond the southeast Louisiana Mississippi River Corridor into several additional Gulf Coast areas.

According to the U.S. Environmental Protection Agency, the Gulf Coast contains one of the highest concentrations of industrial carbon dioxide (CO₂) emissions in the United States, with over 215 million metric tonnes per year (Mtpa) generated today in and around the Houston Ship Channel, the Mississippi River Corridor, Lake Charles and southwest Louisiana, and the Port Arthur and Beaumont, Texas, areas combined. EnLink and ExxonMobil are committed to providing cost-effective and efficient CCS solutions to CO₂ emitting companies and industries in each of these areas, and the two companies continue to develop a strategic relationship to serve these customers.

"EnLink and ExxonMobil are actively pursuing opportunities to develop safe, reliable, and cost-efficient CCS solutions," said Jesse Arenivas, EnLink Chief Executive Officer. "EnLink brings to the table decades of expertise building, owning, and operating midstream assets with a customer-focused mindset, which gives ExxonMobil greater flexibility and more options to meet the needs of industrial CO₂ emitters. EnLink is fast becoming a leader in providing safe, low-cost CO₂ pipeline transportation services, and we're excited to expand the discussion with ExxonMobil to additional high-emitting Gulf Coast areas."

"We continue to build on our industry-leading CCS solutions to help customers reduce their current emissions and see EnLink as a key part of providing the most efficient CO₂ transportation," said Dan Ammann, President of ExxonMobil Low Carbon Solutions. "We've worked closely on CCS transportation solutions since our initial agreement in 2022 and look forward to continuing our collaboration with EnLink to help reduce carbon emissions across the Gulf Coast."

With its acquisition of Denbury, ExxonMobil is evaluating the most market-competitive CCS solutions across the Gulf Coast. During that evaluation, EnLink and ExxonMobil have agreed to reassess the Pecan Island Area project's near-term role, with the expectation that other joint opportunities may be prioritized ahead of the Pecan Island project.

About EnLink Midstream
Headquartered in Dallas, EnLink Midstream (NYSE: ENLC) provides integrated midstream infrastructure services for natural gas, crude oil, and NGLs, as well as CO₂ transportation for carbon capture and sequestration (CCS). Our large-scale, cash-flow-generating asset platforms are in premier production basins and core demand centers, including the Permian Basin, Louisiana, Oklahoma, and North Texas. EnLink is focused on maintaining the financial flexibility and operational excellence that enables us to strategically grow and create sustainable value. Visit www.enlink.com to learn how EnLink connects energy to life.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Although these statements reflect the current views, assumptions and expectations of our management, the matters addressed herein involve certain assumptions, risks and uncertainties that could cause actual activities, performance, outcomes and results to differ materially from those indicated herein. Therefore, you should not rely on any of these forward-looking statements. All statements, other than statements of historical fact, included in this press release constitute forward-looking statements, including but not limited to statements identified by the words "forecast," "may," "believe," "will," "should," "plan," "predict," "anticipate," "intend," "estimate," "expect," "continue," and similar expressions. Applicable uncertainties, factors, and risks are described more fully in EnLink Midstream, LLC's filings with the Securities and Exchange Commission, including EnLink Midstream, LLC's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. EnLink assumes no obligation to update any forward-looking statements.

EnLink Investor Relations: Brian Brungardt, Director of Investor Relations, 214-721-9353, [email protected]
EnLink Media Relations: Megan Wright, Director of Corporate Communications, 214-721-9694, [email protected]

SOURCE EnLink Midstream, LLC