ExxonMobil to Participate in Carbon Capture and Storage Project in Scotland
16 Luglio 2021 - 8:00AM
Business Wire
- Carbon emissions to be captured from ExxonMobil’s joint venture
gas terminal
- ExxonMobil also joins NECCUS Carbon Capture Alliance
- Will share extensive global experience with carbon capture and
storage
ExxonMobil has signed a Memorandum of Understanding to
participate in the recently announced Acorn carbon capture and
storage project (CCS) in Scotland. The project plans to capture and
store approximately 5-6 million tons of CO2 per year by 2030 from
gas terminals at the St Fergus complex at Peterhead, Scotland,
which includes ExxonMobil’s joint venture gas terminal.
The Acorn Project has the potential to provide more than half of
the 10 million tons per year of CO2 storage the UK government is
targeting, and when expanded has the potential to store more than
20 million tons of CO2 emissions per year by the mid-2030s.
“ExxonMobil has more than 30 years’ experience in CCS technology
and is advancing plans for multiple new CCS opportunities around
the world,” said Joe Blommaert, president of Low Carbon Solutions
at ExxonMobil. “We are pleased to support the Acorn Project in the
deployment of CCS, one of the most important technologies required
to achieve society’s climate goals.”
ExxonMobil also said it has joined NECCUS, an alliance of
industry, government and academic experts committed to reducing
carbon emissions from industrial facilities in Scotland.
ExxonMobil’s membership will help the alliance explore the
potential of technology-driven solutions to reduce emissions by
drawing on the company’s extensive global experience with carbon
capture and storage. NECCUS members include the Scottish
government, four leading Scottish universities and several industry
partners.
“Our membership in NECCUS and our involvement with Acorn
underscores our commitment to addressing the dual challenge of
meeting the world’s energy needs while reducing emissions from our
operations,” Blommaert said. “As a world leader in the development
and use of carbon capture and storage, we will work with the
alliance to identify how this technology can play a pivotal role in
reducing Scotland’s emissions.”
“NECCUS welcomes ExxonMobil to our alliance,” said Mike Smith,
CEO of NECCUS. “Decarbonising industrial emissions will be a
challenging but essential part of meeting the national 2045
net-zero target. We believe Scotland is well placed to deliver on
technologies such as carbon capture and storage, and hydrogen,
which are necessary to achieve a net-zero industrial cluster.
Collaboration across the organisations within NECCUS will be
essential to this ambition, and the experience ExxonMobil brings
will enhance this collaboration.”
In March, ExxonMobil established a Low Carbon Solutions business
to commercialize low-emission technologies. It is initially
focusing on CCS, 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.
ExxonMobil is the industry leader in CCS technology and has more
than 30 years of experience capturing carbon. The company has an
equity share in about one-fifth of global CO2 capture capacity and
has captured approximately 40 percent of all the captured
anthropogenic CO2 in the world.
The International Energy Agency projects CCS could mitigate up
to 15 percent of global emissions by 2040, and the U.N.
Intergovernmental Panel on Climate Change (IPCC) estimates global
de-carbonization efforts could be twice as costly without CCS.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy companies, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. To learn more, visit exxonmobil.com, the
Energy Factor and Carbon capture and storage | ExxonMobil.
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Cautionary Statement: Statements of
future events, investment opportunities or conditions in this
release are forward-looking statements. Actual future results,
including project plans, timing, results, and costs, future
reductions in emissions and emissions intensity, carbon capture
results and the impact of operational and technology efforts could
vary depending on the ability to execute operational objectives on
a timely and successful basis; the ability to obtain and timing of
required governmental and other third party consents; the
development and pace of supportive market conditions and national,
regional and local policies relating to carbon capture and emission
reductions; changes in laws and regulations including laws and
regulations regarding greenhouse gas emissions, carbon costs, and
taxes; trade patterns and the development and enforcement of local,
national and international mandates and treaties; unforeseen
technical or operational difficulties; the outcome of research
efforts and future technology developments, including the ability
to scale projects and technologies on a commercially competitive
basis; changes in supply and demand and other market factors
affecting future prices of oil, gas, and petrochemical products;
the outcome of commercial negotiations and the actions of
competitors; and other factors discussed in this release and under
the heading “Factors Affecting Future Results” on the Investors
page of ExxonMobil’s website at exxonmobil.com.
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