SK E&S Buys Stake in Summit Carbon Solutions
Posted on 05/11/2022
SK E&S Co., the natural gas business unit of South Korea’s SK Group, committed to invest US$ 110 million for a 10% stake in Iowa-based Summit Carbon Solutions LLC, a carbon capture and storage (CCS) project in the U.S. Summit Carbon Solutions seeks to capture and store up to 12 million tons of carbon dioxide annually from 32 corn ethanol plants in five U.S. Midwest states. Summit Carbon Solutions’ CCS project aims to build an underground facility in North Dakota.
SK E&S is primarily engaged in natural gas development projects.