By Liz Hampton
(Reuters) - Louisiana's application to obtain enforcement authority over carbon capture wells has gone to the Federal Register for public comment, the Environmental Protection Agency (EPA) said on Friday, a key step in receiving "so-called" primacy and speeding up the permitting process.
The EPA currently manages permitting for most Class VI wells across the United States, which are used to store carbon dioxide. Carbon capture and sequestration is viewed by many as a critical technology in helping reduce emissions and slow global warming.
States that have received primacy over Class VI wells - so far just North Dakota and Wyoming - have been able to cut the permitting process to months from years.
“Capturing and storing carbon is the next phase of job creation and economic development in Louisiana. Louisiana being able to permit wells independently of the EPA while implementing EPA standards gives us an edge over other states and protects the environment,” said U.S. Senator Bill Cassidy of Louisiana.
Several major oil and gas companies, including Talos Energy (NYSE:TALO) and Occidental Petroleum (NYSE:OXY), have carbon capture and sequestration projects planned for Louisiana.