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ExxonMobil claims 2024 was strong year for carbon capture

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US-based oil major ExxonMobil has hailed 2024 as a “breakout” year for its carbon capture and storage (CCS) business.

Writing in a blog post, the senior vice president at ExxoMobil responsible for low-carbon solutions and CCS, Dominic Genetti, said that the US Gulf Coast was currently witnessing the emergence of a brand-new industry, as ExxonMobil builds the first industrial-scale CCS system in the world. It involves:

“…a network of pipelines and storage sites that stretches across Texas, Louisiana and Mississippi. In fact, 2024 was a breakout year in our work to scale up CCS as a real-world solution for US industries looking to reduce their carbon dioxide (CO2) emissions and meet growing demand for low-carbon products.”

The company, which also makes products like the Mobil SHC gear oil, said that by the end of last year, it had collected far more CCS commitments than any other company. It said they totalled 14 million tons of CO2 a year after gaining two new customers in the form of Louisiana’s NG3 natural gas gathering facility and CF Industries of Mississippi’s nitrogen plant.

Genetti says it also has the largest CO2 pipeline network in the US following its purchase of Denbury Resources. The company also completed its first injection well in Texas, to the east of the state, and it has secured a further massive offshore storage site.

It plans to connect the first customer to its network this year. Genetti says this will mark the beginning of the commercialisation of the technology – something that he says is vital to implementing CCS at scale.

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