BANPU and Denmark’s CIP launch $500 million carbon capture venture in the U.S.

Mr. Sinont Vongkusolkit, Chief Executive Officer of Banpu Public Company Limited or BANPU.

Thai energy group BANPU has partnered with Denmark’s Copenhagen Infrastructure Partners (CIP) to launch a joint venture focused on carbon capture, utilization, and storage (CCUS) in the United States, starting with a USD 500 million investment.

The deal was announced by Banpu CEO Sinit Wongkusolkit and involves BKV Corporation — BANPU’s U.S.-based subsidiary listed on the New York Stock Exchange — and CIP’s Energy Transition Fund. Under the terms, CIP will hold a 49% stake in the new venture, while BANPU retains 51% through BKV.

According to the announcement reported by eFinanceThai and Kaohoon, the initial USD 500 million investment may grow to USD 1 billion based on future agreements. The venture will focus on developing, constructing, and operating CCUS projects, aiming to reduce greenhouse gas emissions in line with global decarbonization efforts.

The partnership will see BKV contribute key assets, including its Barnett Zero and Eagle Ford CCUS projects in Texas, along with other future projects and potential cash contributions. BKV will lead operations, leveraging its technical expertise, while CIP brings investment experience in sustainable infrastructure.

The collaboration supports BANPU’s strategic vision of expanding into low-carbon and sustainable energy solutions.