Analysts say estimates that the state could earn hundreds millions from carbon storage leases are overpromising.
The state says depleted fields in Cook Inlet basin have potential to store up to 50 gigatons of carbon dioxide.
Haley Paine, deputy director of the Alaska Division of Oil and Gas, said pumping gas underground isn’t a new idea. It’s a routine step in oil drilling that’s been practiced in Alaska for decades. According to DNR, there is significant underground carbon storage potential in Cook Inlet and on the North Slope. The department estimates leases could bring inBut there are some big questions with carbon storage, like where does the carbon come from? And how do you get it to the storage site?Paine said one idea is to capture CO2 from the exhaust from industrial power generators around the state, like the natural gas-fired generators that power drilling operations on the North Slope.
“I think the big opportunity to the extent there is a large opportunity is really associated with the North Slope natural gas commercialization,” Foster said. “That’s the elephant.”
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