Gulf methanol plant gets $2 billion loan

A new firm called Lake Charles Methanol has received a $2 billion conditional loan commitment from the Department of Energy for a facility that will produce methanol by gasifying petroleum coke, a ...

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Save Business Gulf methanol plant gets $2 billion loan Department of Energy to back world’s largest industrial carbon capture facility A new firm called Lake Charles Methanol has received a $2 billion conditional loan commitment from the Department of Energy for a facility that will produce methanol by gasifying petroleum coke, a waste product from oil refining.

The plant will capture and purify by-product carbon dioxide for use in enhanced oil recovery.

Pending completion of financing, the $3.8 billion plant will be built in Lake Charles, La.

and supplied with coke from nearby refiners.

In addition to methanol and CO 2 it will produce hydrogen, sulfuric acid, argon, krypton, and xenon.

Gulf methanol plant gets $2 billion loan Department of Energy to back world’s largest industrial carbon capture facility cen.acs.org Advertisement More in Business Editor's Picks Popular Return to top --> C&EN's Elements Newsletter Stay on top of the chemistry world with your editor-curated roundup of C&EN stories Copy Link Facebook X LinkedIn Bluesky Reddit Wechat Email Print Share "" via email Close Chemical & Engineering News will not share your email address with any other person or company.

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