On the fuels synthesis side, I think the Fischer-Tropsch technology was mentioned. We have a proprietary
Fischer-Tropsch technology of our own that can produce diesel and other types of fuels as well as lubricant basestocks and petrochemical feedstocks but, more interestingly, we also have an additional technology, which is called methanol-to-gasoline, which we commercialized in New Zealand in the nineteen-eighties, and we license that technology globally. And thats also a critical technology, we
think, to go from the renewable hydrogen and CO2 to usable fuels on the road. Along those lines, as was mentioned, we are working with our colleagues in Porsche to test both advanced biofuels
as well as lower-carbon eFuels as part of an agreement to find pathways towards a potential future consumer adoption of such fuels. Indeed, a specially formulated Esso renewable racing fuel will be tested on the track in Porsches
high-performance motorsports engines beginning at the Porsche Mobil 1 Supercup in 2021. The first iteration of this fuel will be a blend primarily of advanced biofuels, but the second iteration we expect will include an eFuels and this we expect
probably in 2022. And this eFuel will come from the previously referenced Haru Oni project which we are very, very excited about. This project, as our Siemens colleague described, is in Chile and it will combine renewable hydrogen with carbon
dioxide to produce methanol. ExxonMobil is very, very proud to be able to provide the conversion technology for this project, the methanol-to-gasoline conversion
technology, which will ultimately be made into this race fuel that we talked about a little earlier.
So, if I may share my screen, if I can. If you can
see that.
Kilian Krone: Dr. Mizan, if I may remind you of the time. If you can, more or less, keep it in the five minutes.
Dr. Tahmid Mizan: So, Ill go very quickly then. Just to show that, in January, ExxonMobil created a new business called Low
Carbon Solutions, and the purpose of this new company is to invest, we expect up to 3 billion dollars, in low-carbon, low-emissions energy solutions through 2025.
It includes different kinds of carbon capture and sequestration projects that you see along the top of the page, in various countries, in the U.S., in The Netherlands, Belgium, Scotland, Singapore and Qatar, are all being evaluated. And then, the
concept of hubs was brought up in reference to green hydrogen. We think the concept of hubs is also appropriate in the context of carbon capture and sequestration. In fact, were looking at a potential carbon capture and sequestration hub in
the Houston ship channel, where there are lots and lots of industrial emissions. There is a huge reservoir potentially to store the carbon dioxide. Up to, we believe, 500 billion metric tons of
CO2 might be stored in that area, in the Gulf Coast of the United States, near Texas, and we think that this project could easily store up to 100 million metric tons of carbon dioxide a
year by the year 2040. So this is an area that were actually very, very excited about, and we expect to leverage all of our technologies to hopefully bring this to bear.
Along the bottom of the page you can see many, many partners who we collaborate with, in industry, in academia, and in government, in terms of carbon capture
technologies and other low-carbon technologies, including fuel cell, direct air capture, and biofuels technologies. And I think we hope to be able to bring all of this technology to bear in terms of reducing
the cost and increasing the scale of low-carbon solutions, including of course potentially hydrogen, low-carbon hydrogen and eFuels.
With that, let me stop here and see, Kilian, if you have any questions.
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