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Oil & Gas

ExxonMobil signs its third external carbon capture deal in US

US supermajor ExxonMobil has signed an agreement on Thursday to capture 800,000 tonnes per annum of carbon dioxide from steel producer Nucor’s plant in Convent, Louisiana.

This is ExxonMobil’s third carbon offtake agreement, all three of which are planned on the US Gulf Coast. The first project announced was a 2 million tpa deal with CF Industries along the Mississippi River Industrial Corridor in Louisiana. The second was a 2.2 million tpa deal with Linde in Beaumont, Texas.

The Nucor project, which is expected to begin in 2026, will use the same transport and storage infrastructure as the CF Industries project.

Dan Ammann, president of ExxonMobil Low Carbon Solutions, said: “Our agreement with Nucor is the latest example of how we’re delivering on our mission to help accelerate the world’s path to net zero and build a compelling new business.

“Momentum is building as customers recognise our ability to solve emission challenges at scale.”

Of the $17 billion that ExxonMobil intends to invest in low-carbon solutions by 2027, 40% is expected to be used to reduce customer emissions, rather than emissions from its own operations. This is ExxonMobil’s approach to reduce third-party emissions, as it shuns the effectiveness of holding a company accountable for its Scope 3 emissions.

Read the full article here

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