Title: An Overview of New York Carbon Dioxide Storage Lease (with Landowner) Introduction: The New York Carbon Dioxide Storage Lease (with Landowner) is a legal agreement that allows the storage of carbon dioxide (CO2) in underground reservoirs within the state of New York. CO2 storage leases aim to combat climate change by providing an opportunity for landowners to monetize their property while promoting the capture and safe storage of CO2 emissions from industrial sources. In New York, various types of carbon dioxide storage leases are available, each tailored to specific conditions and landowner requirements. 1. The Enhanced Oil Recovery (FOR) Lease: The Enhanced Oil Recovery Lease is one type of carbon dioxide storage lease in New York. This lease agreement allows landowners to lease their property for the purpose of injecting compressed CO2 into oil reservoirs. The injected CO2 then helps recover additional oil that would otherwise be left recovered. This lease is particularly suitable for oil producing regions where the injection of CO2 can enhance oil extraction techniques and increase oil recovery rates. 2. The Saline Aquifer Lease: Another type of carbon dioxide storage lease available in New York is the Saline Aquifer Lease. This lease allows landowners to lease their underground saline aquifers for the purpose of injecting and storing CO2. Saline aquifers are deep underground formations comprised of porous rocks that can securely store large quantities of CO2. This lease is suitable for landowners with suitable saline aquifers on their property, who wish to participate in carbon capture initiatives and contribute to regional decarbonization efforts. 3. The Industrial Source Lease: The Industrial Source Lease is specifically designed for landowners who own property in proximity to industrial facilities that generate significant CO2 emissions. This lease enables landowners to lease their land for the storage of CO2 emitted from these facilities, mitigating their carbon footprint. By providing nearby storage options, this lease helps reduce transportation costs and promotes localized emission reduction strategies effectively. 4. The Research and Development Lease: The Research and Development Lease is an innovative type of carbon dioxide storage lease that aims to facilitate scientific research and technological advancements in the field of CO2 storage. This lease is designed for landowners who are open to offering their property for testing and development of novel storage technologies, geological assessments, and experiments related to CO2 storage. Conclusion: The New York Carbon Dioxide Storage Lease (with Landowner) program offers diverse lease options tailored to landowners' specific needs and geological conditions. By engaging in these lease agreements, landowners play a significant role in facilitating carbon capture and storage initiatives, contributing to efforts in combating climate change, and advancing sustainable development practices.
New York Carbon Dioxide Storage Lease (with Landowner)
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The prevailing rule, often referred to as the American Rule, holds that the pore space is owned by the surface owner, rather than the mineral owner1. The overwhelming majority of jurisdictions follow the American Rule, including the states of Louisiana2, Oklahoma3, and New Mexico4.
Under American rule, the mineral estate holder owns the minerals but not the geologic formation. The surface owner owns the geologic pore space and has storage rights.
The analysis suggests coal-sourced CO2 emissions can be stored in this region at a cost of $52?$60 ton?1, whereas the cost to store emission from natural-gas-fired plants ranges from approximately $80 to $90. Storing emissions offshore increases the lowest total costs of CCS to over $60 per ton of CO2 for coal.
Geologists call it pore space. Similar to holes in a sponge, pore space is the empty space between particles of sand and sediment or the space within and between rocks.
The surface owner owns the geologic pore space and has storage rights.
In summary, landowners who own property own the air and the physical surface and subsurface (rocks, soil, and other immobile resources) as well as the fugitive resources that happen to be trapped in the rock pores of the physical property.
The Pore Lease Oil & gas leases normally contain provisions allowing the lessee to reinject produced gas and water. These lessors are the mineral owners. Depending upon the lease they granted to a lessee, the ?minerals? that lessees may produce are frequently limited to oil & gas.