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Nassau New York Subsurface Underground Carbon Dioxide Storage Lease and Agreement (with Landowner, Long Form)

Name: Nassau New York Subsurface Underground Carbon Dioxide Storage Lease and Agreement (with Landowner, Long Form)
Brand: US Legal Forms
Rating: 4.84 (394 reviews)

Category:

Oil Gas and Minerals - Leases

State:

Multi-State

County:

Nassau

Control #:

US-OG-1148

Format:

Instant download

Description

This form is a long form subsurface underground carbon dioxide storage lease and agreement with landowner.

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The top meter of grassland soils store around 49 tonnes of carbon dioxide equivalents per acre. Once released, it takes many decades for SOC to recover if the grassland is restored from a cropland.

The study shows that the cost of geologic sequestration without by-product credits (such as additional oil produced with enhanced oil recovery (EOR)) ranges from $2.84 to $28.12 per metric ton of CO2, depending on characteristics specific to the type of geologic formation.

By studying a natural reservoir in Utah, USA, where CO2 released from deeper formations has been trapped for around 100,000 years, a Cambridge-led research team has now shown that CO2 can be securely stored underground for far longer than the 10,000 years needed to avoid climatic impacts.

At depths below about 800 meters (about 2,600 feet), the natural temperature and fluid pressures are in excess of the critical point of CO2 for most places on Earth. This means that CO2 injected at this depth or deeper will remain in the supercritical condition given the temperatures and pressures present.

The three ways that CO2 could become permanently trapped underground include residual trapping, when CO2 gets trapped in the small gaps between rocks; solubility trapping, which occurs when CO2 dissolves in water; and mineral trapping, the conversion of CO2 into solid mineral.

yearold forest on average absorbs . 8 metric tons of carbon per acre per year. A 65 year old forest 1.6 metric tons per acre per year. Doubling the age of the forest in the North Maine Woods could increase carbon storage by more than 1000 million metric tons.

When you run the number, it turns out that one acre of forest absorbs about 2.5 tons of CO2 per year.

With regenerative agriculture the percentage can increase to between 5 and 8% over 10 to 20 years, by which time the soil will become carbon replete. According to them, each percentage increase represents 8.5 tons of carbon sequestered per acre: so between 25 and 60 tons per acre over 10 -20 years.

Studies have shown that CO2 can be safely stored underground, such as in deep, porous rock formations, for thousands of years, and we've even found natural pockets of CO2 that have existed for millions.

The most well-developed approach to storing CO2 is injecting it underground into naturally occurring, porous rock formations such as former natural gas or oil reservoirs, coal beds that can't be mined, or saline aquifers.

Changes to farm practices could sequester as much as 250 million tonnes of carbon dioxide annually in the United States, or 4% of the country's emissions, according to a 2019 report by the National Academy of Sciences.

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Long-term lease of five development parcels at Republic Airport, located in the hamlet of East Farmingdale, Town of Babylon, Suffolk County,. Allowing for power generation, fuel refining and storage, solid waste disposal, recycling, quarrying and mining, mechanical and other forms of manufacture.

Nassau New York Subsurface Underground Carbon Dioxide Storage Lease and Agreement (with Landowner, Long Form)

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How much carbon is sequestered in an acre of natural grassland?

How much does geological sequestration cost?

How long can CO2 be stored underground?

How deep must CO2 be buried for carbon storage?

How is carbon dioxide stored underground?

How much carbon does an acre of forest sequester per year?

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What is the Nassau Subsurface Underground Carbon Dioxide Storage Lease and Agreement (with Landowner, Long Form)883535?

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What does the carbon dioxide storage company agree to in this agreement?

Can the landowner terminate the agreement?

Are there any financial obligations for the landowner?

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