The national and global energy industry landscape is changing, as many companies and world leaders are focusing their efforts on effective energy transition in the decades ahead. The United States has continued to lead the charge in developing effective carbon capture, utilization and storage (“CCUS”) technology, particularly, in light of the Biden administration’s push for achieving “net zero” carbon emissions by 2050.
From an environmental perspective, the use of CCUS technology allows for traditional energy companies to lower their oil and gas emissions output, reduce their environmental impact, and lessen the need to switch to alternative fuels. Financially, CCUS technology may increasingly be supported by governmental subsidies and tax credits.
Foley’s Energy Team can assist in a wide array of areas implicated in CCUS projects, including, but not limited to:
Project structure and development
Federal and state tax incentives, including section 45Q income tax credit
CO2 pipelines and infrastructure
Drafting and negotiating CO2 offtake agreements
Permitting and regulatory issues
Land use and rights
Advice for new entrants into the market
With over 1,100 attorneys firm-wide, covering various practice areas, Foley’s full-service model ensures that we are able to meet the needs of our clients—no matter where they are in their business journey.
Whether a traditional energy client or an energy start-up entering the CCUS market for the first time, Foley’s Energy Team is poised to provide our clients with guidance in every aspect of your project.