1,500 New Manufacturing and Construction Jobs
Ultra-clean refining of waste petroleum coke into methanol and other valuable chemicals
4.5 million barrels per year of domestic oil production
99% reduction in pollution, with 90% capture and sequestration of CO2
Starting construction summer 2018
Jobs
1,500 new construction and manufacturing jobs. 1,000 construction jobs and 500 permanent jobs. The construction effort will take 3-4 years beginning in early 2017 and employ 1,000 workers. There will be approximately 200 full-time employees at the LCM facility paying wages well in excess of the Calcasieu Parish average, as well as 300 jobs created in the oil and other industries.
Environmental Stewardship
Clean air, clean water. The LCM facility will reduce pollution by 99% over conventional uses of petroleum coke in combustion or other processes, as well as capture over 90% of the CO2 that would otherwise be emitted through the use of this fuel in combustion or other processes, drastically improving the environment through the reduction of particulates and GHG emissions.
Clean Energy Manufacturing
Clean energy from petroleum coke. LCM will produce methanol, hydrogen, CO2 and other valuable chemicals from petroleum coke, a waste product from the process of refining heavy crude oil. LCM’s project utilizes innovative, ultra-clean technology licensed by GE to gasify its feedstock into a syngas, and which is subsequently converted into marketable products through the use of other technologies and licenses.
Lake Charles, Louisiana Site
Investing in America. Louisiana is a great place to do business, and LCM has a site prepared adjacent to the Port of Lake Charles in Lake Charles, Louisiana and has completed engineering work with Fluor Corporation in preparation for construction start. The benefits from LCM will be realized not only in the Lake Charles region, but also across the country.
Domestic Oil
Supporting 12,500 barrels per day of U.S. oil production. LCM will sell approximately 4.5 million tons of captured CO2 to domestic oilfield operators, allowing them to unlock crude otherwise inaccessible by means of enhanced oil recovery. In this process the CO2 is permanently sequestered, reducing greenhouse gas emissions by millions of tons per year.
Department of Energy Partnership
Commercializing innovative technology. LCM is the flagship project for the Department of Energy's $8.5 billion federal loan guarantee program for advanced fossil-fuel projects. The goal of this program is to jump start development of a new generation of clean energy, creating jobs, environmental benefits, and energy independence.
“DOE’s decision to issue a conditional commitment of up to $2 billion to Lake Charles Methanol proves that Louisiana is a great place to do business and that Louisiana has a promising future in clean energy projects. This project demonstrates how government and private enterprise can work together to support energy technologies that improve the environment while creating new jobs and economic development.”