"A company backed by BlackRock has abandoned plans to build a 1,300-mile pipeline across the US Midwest to collect and store carbon emissions from the corn ethanol industry," reports Ars Technica.
The move comes "following opposition from landowners and some environmental campaigners." Navigator CO2 on Friday said developing its carbon capture and storage (CCS) project called Heartland Greenway had been "challenging" because of the unpredictable nature of regulatory and government processes in South Dakota and Iowa. Navigator's decision to scrap its flagship $3.1 billion project — one of the biggest of its kind in the US — is a blow for a fledgling industry... It also represents a setback for the carbon-intensive corn ethanol refining industry, a pillar of the rural Midwestern economy which is targeting industry-scale CCS as a way to reduce emissions...
The project faced opposition from local landowners, who expressed concerns about safety and property seizures, and some environmentalists who describe CO2 pipelines as dangerous and a way to prop up the fossil fuels industry, which already has a network of such infrastructure. Addressing the decision by Navigator, the Coalition To Stop CO2 Pipelines said it "celebrates this victory," but added: "we also know that the tax incentives made available by the federal government for carbon capture, transport and storage likely mean another entity will pick up Navigator's project, or find a different route through Illinois."
The article cites one analyst at energy research firm Wood Mackenzie who believes this cancellation could benefit rival carbon-capture companies like Summit Carbon Solutions, which is planning an even larger network of CO2 pipelines throughout the Midwest, and could try to sign deals with Navigator's former customers.