The Indiana Carbon Dioxide Storage and Secondary Recovery Unit Agreement is a legal agreement established between parties involved in the carbon capture and storage (CCS) industry in Indiana. This agreement plays a crucial role in regulating and facilitating the storage and recovery of carbon dioxide (CO2) in underground reservoirs for both environmental and economic purposes. By utilizing relevant keywords, let's delve into a detailed description of this agreement and explore potential types of such agreements. Keywords: Indiana, Carbon Dioxide Storage, Secondary Recovery, Agreement, Types 1. Overview: The Indiana Carbon Dioxide Storage and Secondary Recovery Unit Agreement is a legally binding document that outlines the terms, conditions, and responsibilities for parties involved in the storage and secondary recovery of carbon dioxide. This agreement aims to regulate the capture, transportation, and secure sequestration of CO2, promoting sustainable environmental practices and enhancing oil and gas recovery techniques in the state of Indiana. 2. Objectives: The primary goals of the Indiana Carbon Dioxide Storage and Secondary Recovery Unit Agreement include: — Establishing a framework for carbon capture and storage activities within Indiana. — Stimulating economic growth and investment in the CCS industry. — Safeguarding human health, safety, and the environment during the storage and recovery processes. — Encouraging efficient utilization of existing oil and gas fields through secondary recovery technologies using CO2 injection. — Reducing greenhouse gas emissions and mitigating climate change impacts. 3. Parties Involved: The agreement typically involves multiple parties, including but not limited to: — Governmental entities: State regulatory agencies, such as the Indiana Department of Environmental Management (IDEM) and the Indiana Utility Regulatory Commission (IRC), play a crucial role in overseeing and enforcing the agreement's provisions. — Carbon Capture and Storage Companies: Companies specializing in the capture, purification, and transportation of CO2 actively participate in the agreement to secure permits and ensure compliance with storage regulations. — Oil and Gas Operators: Existing oil and gas companies that engage in enhanced oil recovery (FOR) techniques leveraging CO2 injection also form an integral part of the agreement. 4. Types of Agreements: While variations may exist in the specific terms and conditions, there are two main types of Indiana Carbon Dioxide Storage and Secondary Recovery Unit Agreements: — Storage Agreement: This specifically focuses on the injection and storage of CO2 in underground geologic formations. It outlines the responsibilities of the carbon storage operators, monitoring and verification requirements, reporting procedures, and financial responsibilities associated with long-term CO2 storage. — Secondary Recovery Agreement: This type emphasizes the secondary recovery of oil and gas through CO2 injection, targeting existing oil and gas fields for enhanced production. It addresses the roles and obligations of participating operators, CO2 suppliers, and regulatory bodies, along with considerations for associated monitoring protocols, compliance reporting, and financial arrangements. In conclusion, the Indiana Carbon Dioxide Storage and Secondary Recovery Unit Agreement is a comprehensive legal framework that regulates the carbon capture and storage activities in Indiana. It encompasses storage-specific and secondary recovery-specific agreements, enabling responsible CO2 sequestration while supporting energy production and environmental stewardship in the state.
Indiana Carbon Dioxide Storage and Secondary Recovery Unit Agreement
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Any ownership rights to pore space that were not expressly or by implication acquired or reserved by conveyance document remain vested in the surface estate.
Section 14-39-2-5 - Authorization of carbon sequestration projects (a) Carbon sequestration projects are authorized in Indiana for the purposes of: (1) injecting carbon dioxide into the pore space of an underground storage facility through at least one (1) carbon dioxide injection well pursuant to a UIC Class VI permit ...
Ownership. W.S. § 34-1-152 grants pore space ownership to the surface owner and allows it to be severed from the surface and separately conveyed. In 2009 W.S. § 35-11-316 created an 80% unitization requirement.
The economic viability of CCS for the oil and gas sector continues to rely heavily on federal and provincial government financial support. This is in contrast to renewable technologies, which have generally required government subsidies only in the initial development phases.
Pore Space Law Some states, like Oklahoma, have specific statutes that recognize that the pore space is owned by the surface owner.
Kentucky, on the other hand, appears to be an outlier that ties ownership of ?pore space? to the owner of the mineral rights. Many other states, like Indiana, have no case law directly addressing this issue.
Pore space ownership in the United States varies from state to state and can be owned by the State, by the U.S. government or private individuals. In other countries, subsurface rights are controlled entirely by the government.
This Act ensures a permanent storage of CO2 in underground rock layers in a way that protects humanity and the environment and takes the responsibility for future generations into consideration.