Virginia Carbon Dioxide Storage Agreement
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How to fill out Carbon Dioxide Storage Agreement?
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FAQ
Under American rule, the mineral estate holder owns the minerals but not the geologic formation. The surface owner owns the geologic pore space and has storage rights.
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.
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.
In Texas and most states, pore space belongs to the surface owner, absent an explicit severance. Some states are passing statutes prohibiting the severance of pore space as a separate estate, thereby securing ownership in the surface owners.
CO2 has been safely stored for decades Using geospatial data on sedimentary thickness and other parameters, total global storage capacity has been estimated at between 8 000 Gt and 55 000 Gt.
Alaska has important competitive advantages for the development of a CCUS industry. The State owns the pore space used for storage under State lands, which allows leasing of large contiguous storage sites.
Depth ? The CO2 storage zone needs to be located at a sufficient depth and pressure so that CO2 can be injected as a supercritical fluid. Supercritical CO2 is dense and behaves more like a liquid than a gas, allowing for storage of higher concentrations of CO2 by volume.
(a) The ownership of all pore space in all strata below the surface lands and waters of this state is declared to be vested in the several owners of the surface above the strata.