Carbonvert Inc. and Castex Energy, Inc. have signed an operating agreement with the State of Louisiana to establish a 24,000-acre offshore carbon storage hub in Cameron Parish, offering permanent carbon dioxide (CO2) storage. With Castex's extensive operational and subsurface experience and Carbonvert's specialization in carbon capture and storage (CCS), the project has a total storage capacity of over 250 million metric tons of CO2. It will serve the region's industrial emitters and potential greenfield projects, including ammonia and LNG facilities. The partners are also exploring opportunities to repurpose existing pipeline infrastructure to support the initiative. Castex will be the operator for the hub.

Enbridge Inc., North America's largest midstream company, has become a 45% equity partner in OnStream. Enbridge will act as OnStream's preferred CO2 transportation provider.