Schlumberger (SLB) and Alstom SA Sign Agreement to Study Carbon Capture and Storage Systems
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Energy and transport infrastructure company Alstom SA and oilfield services company Schlumberger Limited (NYSE: SLB) recently announced that they have signed an agreement for a mutual collaboration under which they will study the technical readiness of power plants to accommodate carbon capture and storage (CCS) systems developed by Alstom. The study will identify steps that a power plant must take to adapt to the CCS systems, evaluate potential storage sites for carbon dioxide, and also assess the future costs of transporting and storing carbon dioxide. The joint offering has been designed so that power plants can incorporate CCS in the future and secure environmental permits easily. Alstom has signed agreements with several power, utility, and oil and gas companies in the U.S. and Europe since 2006 to test carbon-capture technologies, including American Electric Power Company Incorporated (NYSE: AEP), The Dow Chemical Company (NYSE: DOW) and StatoilHydro ASA (NYSE: STO).
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