ExxonMobil joins discussions about large-scale carbon capture hubs

ExxonMobil is joining collaborative industry discussions in the UK, Europe and US around the creation of carbon capture and storage (CCS) hub concepts, which if proven successful, could collectively capture millions of tonnes of CO2 per year globally.

CCS is the process of capturing CO2 from industrial activity that would otherwise be released into the atmosphere and injecting it into deep underground geologic formations for safe, secure and permanent storage. It can be applied to heavy industry and power generation, two sectors of the economy that accounted for two-thirds of global energy-related emissions in 2019.

The collective support of industries, communities and governments to advance CCS is seen as critical to success and ExxonMobil is taking a pro-active stance by participating in discussions to develop these hub concepts.

In the US, ExxonMobil and 10 other companies with operations near Houston, have expressed interest in supporting the large-scale deployment of carbon capture and storage (CCS) technology there. The companies have agreed to begin discussing plans that could lead to capturing and safely storing up to 50 million metric tons of CO2 per year by 2030 and about 100 million metric tons by 2040. The plans would involve using CCS technology at facilities that generate electricity or make everyday products like plastics, motor fuels and packaging.

ExxonMobil has also signed an MOU to participate in the Acorn CCS project in Scotland, which has the potential to deliver more than half of the country’s target of capturing and storing 10 million metric tons per year of CO2 by 2030. When expanded further, it will have the potential to store more than 20 million metric tons per year of CO2 by the mid-2030s. Our joint venture gas terminal at the St Fergus complex at Peterhead, Scotland, is part of that MOU.

Carbon capture is essential to reaching the UK's goal of net-zero emissions by 2050 and has the potential to generate thousands of new jobs.

See also: ExxonMobil increases involvement with Scotland’s Acorn CCS project

Read more about it at https://energyfactor.exxonmobil.eu/science-technology/7-things-ccs/