Utah Carbon Dioxide Storage Lease (with Landowner) refers to a contractual agreement between a landowner and a lessee for the storage of carbon dioxide (CO2) within the landowner's property in the state of Utah. This lease arrangement allows for the secure and long-term storage of CO2 captured from industrial processes or power generation in underground geological formations. In Utah, there are primarily two types of Carbon Dioxide Storage Leases (with Landowner) based on the location and storage capacity: 1. Onshore Utah Carbon Dioxide Storage Lease: This type of lease involves the storage of CO2 in underground formations located on land in Utah. The landowner grants the lessee access to their property for the purpose of geological CO2 storage. The lease outlines the terms and conditions for the storage process, including the payment structure, length of the lease, environmental safeguards, and the rights and responsibilities of both parties. 2. Offshore Utah Carbon Dioxide Storage Lease: Unlike the onshore lease, this type involves the storage of CO2 in underground geological formations located beneath the seabed off the coast of Utah. These leases typically involve agreements with the state or federal government, as they have jurisdiction over offshore resources. The terms and conditions of the lease are similar to onshore leases, with additional considerations for marine environmental protection and operational compliance with offshore regulations. Both types of Utah Carbon Dioxide Storage Leases (with Landowner) aim to facilitate the reduction of greenhouse gas emissions by providing a legal framework for the secure and permanent storage of CO2. The lessee assumes responsibility for selecting appropriate storage sites, conducting necessary assessments, and ensuring compliance with all relevant regulations. The landowner, on the other hand, receives financial compensation in exchange for the use of their property and may have additional rights related to the project's environmental impact and post-storage land use. Keywords: Utah, Carbon Dioxide Storage Lease, landowner, CO2, storage, underground, geological formations, onshore, offshore, greenhouse gas emissions, compensation, regulations.
Utah Carbon Dioxide Storage Lease (with Landowner)
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FAQ
Pore space ownership in the United States varies from state to state and can be owned by the State, by the U.S. government or private individuals. In other countries, subsurface rights are controlled entirely by the government.
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.
(a) General rule. --The ownership of all pore space in all strata below the surface lands and waters of the Commonwealth shall be vested in the owner of the surface above the pore space.
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.
Ownership. W.S. § 34-1-152 grants pore space ownership to the surface owner and allows it to be severed from the surface and separately conveyed. In 2009 W.S. § 35-11-316 created an 80% unitization requirement.
Alaska has important competitive advantages for the development of a CCUS industry. The State owns the pore space used for storage under State lands, which allows leasing of large contiguous storage sites.
The lease agreement provides Denbury with the exclusive right to develop and operate approximately 16,000 acres of subsurface pore space owned by Weyerhaeuser in Simpson and Copiah Counties in Mississippi.
Ownership. W.S. § 34-1-152 grants pore space ownership to the surface owner and allows it to be severed from the surface and separately conveyed.