ExxonMobil presentation details strategy to grow shareholder value, protect dividend and transition to lower-carbon future hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Climate Action Alliance of the Valley climate, energy news roundup: April 25
Published Sunday, Apr. 25, 2021, 11:43 am
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Politics and Policy
At Biden’s climate summit:
He pledged to slash US greenhouse gas emissions 50-52% by the end of the decade, while urging world leaders to go big.
ExxonMobil unveils plan for $100bn CCS project in Texas
The proposed hub is forecast to capture 100 million tonnes of carbon dioxide by 2040 and store them under the Gulf of Mexico seabed
Image: askarim / Shutterstock
The plan is to build infrastructure in Houston to capture carbon emitted from plants along the Houston Ship Channel and permanently store it in an underwater reservoir, thousands of feet below the seafloor of the Gulf of Mexico.
The project is forecast to store about 50 million tonnes of carbon dioxide a year by 2030 and 100 million tonnes by 2040.
The US oil major said the construction of the ambitious plan requires the collective support of industry and government.
Exxon s $100 Billion Carbon Capture Plan: Big, Challenging And Needed forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
ExxonMobil pitches plan for $100bn carbon storage project 20 Apr 2021 (Last Updated April 20th, 2021 11:40)
ExxonMobil has proposed a public-private carbon capture and storage (CCS) project, which would require an investment of more than $100bn.
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ExxonMobil seeks partners on the proposed carbon storage project. Credit: wasi1370 / Pixabay.
ExxonMobil has proposed a public-private carbon capture and storage (CCS) project, which would require an investment of more than $100bn.
The project would collect carbon dioxide emitted by industrial facilities, including oil refineries and petrochemical plants, located along the Houston Ship Channel in the US.
The collected emissions would then be transported via pipeline for storage in reservoirs deep under the Gulf of Mexico.