Buckeye Partners Acquires Carbon Capture Company Elysian
CCS Platform Accelerates Buckeye’s Lower-Carbon Solutions Strategy
HOUSTON – July 17, 2023 – Buckeye Partners (“Buckeye”) today announced that it has acquired Elysian Carbon Management (“Elysian”) from EnCap Flatrock Midstream. Elysian provides integrated end-to-end carbon capture and storage (“CCS”) solutions to industrial, power and similar facilities seeking to transition to lower carbon products to advance emissions reductions goals.
“This acquisition reflects Buckeye’s commitment to continue to provide essential infrastructure and logistics solutions to meet our customers’ evolving needs in the energy transition,” said Buckeye CEO Todd Russo. “Rapidly developing CCS-related technologies and solutions offer abundant synergies across Buckeye’s project development capabilities and existing pipeline network, and are essential to enabling the energy transition’s success. We’re excited for the Elysian team to join the Buckeye platform and to integrate their expertise to better serve our customers’ growing lower-carbon needs.”
This acquisition is another meaningful step in Buckeye’s ongoing commitment to building a business that is responsive to the needs of the future while continuing to serve the energy needs of communities today. Through advancing strategies to further reduce carbon emissions, Buckeye is committed to becoming a net zero energy business by 2040, across scope 1 and 2 GHG emissions. These commitments and others can be found in Buckeye’s newly released 2022 Sustainability Report.
“Buckeye continues to demonstrate resiliency and emissions-reduction results across its increasingly diversified energy solutions portfolio,” said Elysian CEO Bret Logue. “We’re fully aligned with their decarbonization mission and look forward to adding immediate value to Buckeye’s customer base and their momentum in the energy transition by integrating CCS technologies across the energy value chain.”
Buckeye is the premier infrastructure and logistics provider for the world’s energy needs, both today and tomorrow.
Buckeye, a wholly owned investment of the IFM Global Infrastructure Fund (“IFM GIF”), owns and operates a diversified global network of integrated assets providing midstream infrastructure and logistic solutions, primarily consisting of the transportation, storage, processing, and marketing of liquid petroleum products. Across every aspect of the business – including its over 5,000 miles of domestic pipeline, more than 135 liquid petroleum products terminals and approximately 130 million barrels of tank capacity – Buckeye focuses on responsibly providing world-class service to meet the changing energy needs of its customers. As part of this business priority and commitment to its customers, Buckeye is increasingly diversifying its platform to advance energy transition initiatives and decarbonization efforts. For more information about Buckeye and its ESG efforts, visit buckeye.com.
About Elysian Carbon Management
Elysian Carbon Management provides integrated end-to-end carbon capture and storage (“CCS”) solutions to owners of industrial and power facilities seeking to transition to low-carbon products and address environmental, social and governance goals. Elysian’s services include the capture of carbon dioxide from diverse flue streams, compression, transportation, permanent geologic storage and all of the permitting and financial structuring work necessary to accomplish these services, including securing Class VI injection permits and qualifying sites under the EPA’s monitoring, reporting and verification protocols. For more information, visit elysian.cc.
Source Buckeye Partners Press Release