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China's financing may give Texas carbon-capture project a boost

China became a major player yesterday in a Texas carbon capture and sequestration project that is vying to become one of the world's first commercial demonstrations of the technology. At an oil and gas forum in San Antonio, Texas, Summit Power Group announced that the Export-Import Bank of China will be the sole financial lender of the $2.5 billion Texas Clean Energy Project, which envisions capture of 90 percent of the carbon dioxide from an advanced coal plant.

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