The Kentucky Carbon Dioxide Storage and Secondary Recovery Unit Agreement (KY-CCS/SRU) is a comprehensive legal document specifically designed to regulate the storing and recovery of carbon dioxide (CO2) in Kentucky. This agreement aims to support the state's efforts in reducing greenhouse gas emissions while simultaneously promoting secondary recovery of oil and gas resources. Key terms and concepts within the agreement include: 1. Carbon Dioxide Storage: The agreement establishes guidelines and provisions for the safe and secure storage of carbon dioxide in underground geological formations. These storage sites should possess the capacity and characteristics necessary to ensure long-term containment of CO2, thus mitigating its release into the atmosphere. 2. Secondary Recovery: The KY-CCS/SRU agreement facilitates the implementation of secondary recovery techniques in oil and gas fields. By injecting CO2 into these fields, it helps enhance the recovery of oil and natural gas resources while simultaneously storing the emitted carbon dioxide. 3. Monitoring and Verification: The agreement emphasizes the significance of continuous monitoring, measurement, and verification of CO2 storage operations. Regular assessments ensure the integrity of the storage sites and verify the amount of CO2 effectively sequestered. 4. Site Selection and Assessment: The KY-CCS/SRU agreement defines the processes and criteria for selecting suitable sites for CO2 storage and secondary recovery projects. Site assessments evaluate factors like geological formations, proximity to emission sources, transportation infrastructure, and potential environmental impacts. 5. Liability and Financial Responsibility: The agreement defines the liability and financial responsibilities of the parties involved in CO2 storage and secondary recovery operations. This ensures that operators bear the costs associated with any potential accidents, environmental damages, or long-term liabilities resulting from the project. Different types or versions of the Kentucky Carbon Dioxide Storage and Secondary Recovery Unit Agreement may exist, tailored to specific projects or regions within the state. For instance, individual agreements could be established for different underground formations or oil and gas fields, each with its own unique geological characteristics and storage potential. These variations would require corresponding adaptations in terms of monitoring, assessment, and regulatory requirements specific to each agreement. In conclusion, the Kentucky Carbon Dioxide Storage and Secondary Recovery Unit Agreement is a legally binding document that provides a framework for regulating carbon dioxide storage and secondary recovery operations in Kentucky. Its primary objectives are to reduce greenhouse gas emissions, promote the recovery of oil and gas resources, and ensure the safety and long-term integrity of storage sites.
Kentucky Carbon Dioxide Storage and Secondary Recovery Unit Agreement
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How to fill out Carbon Dioxide Storage And Secondary Recovery Unit Agreement?
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FAQ
In CO2 EOR projects, all of the injected CO2 either remains sequestered underground or is produced and re-injected in a subsequent project, making the notion of using captured anthropogenic CO2 for EOR in places far removed from natural sources of CO2 a likely possibility.
The surface owner owns the geologic pore space and has storage rights.
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.
5 The summary of relevant case law below demonstrates that courts in Montana, Oklahoma, Louisiana, New York, Michigan, West Virginia, New Mexico, and California all recognize the surface owner's ownership of underground pore space for gas storage operations.
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.
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.
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.
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.