ExxonMobil Begins Design Studies for South East Australia Carbon Capture Hub in Gippsland
14 Avril 2022 - 4:00PM
Business Wire
- Project could capture up to 2 million metric tons of CO2
per year
- Company in discussion with local emissions-intensive
industries
- Project could start as early as 2025
ExxonMobil said today it is undertaking early front-end
engineering design studies (pre-FEED) to determine the potential
for carbon capture and storage to reduce greenhouse gas emissions
from multiple industries in the Gippsland Basin.
The South East Australia carbon capture and storage (SEA CCS)
hub would initially use existing infrastructure to store CO2 in the
depleted Bream field off the coast of Gippsland, Victoria. The
company is in active discussions with local industries which may be
interested in accessing the SEA CCS hub to reduce emissions from
their operations.
The project is designed to capture up to 2 million metric tons
of CO2 per year. If technical and business feasibility is
confirmed, the SEA CCS hub could be operational by 2025.
“Collaboration with other industries is an important step to
unlock future carbon capture and storage opportunities for
Australia, with the potential for large-scale reductions in the
highest emitting industrial sectors,” said Joe Blommaert, president
of ExxonMobil Low Carbon Solutions. “Sound government policies will
accelerate the deployment of key technologies required to support
society’s ambition for a net-zero future.”
ExxonMobil established its Low Carbon Solutions business to
commercialize the company’s extensive lower-emission portfolio with
the objective to create long-term shareholder value and support
global emission-reduction efforts.
Low Carbon Solutions is focused on commercializing
lower-emission business opportunities in carbon capture and
storage, hydrogen and lower-emission fuels, by leveraging the
skills, knowledge and scale of ExxonMobil. The company has more
than 30 years of experience capturing CO2 and has cumulatively
captured more human-made CO2 than any other company. It has an
equity share of about one-fifth of the world’s carbon capture and
storage capacity at about 9 million metric tons per year.
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Cautionary Statement: Statements of future events,
investment opportunities projects or partnerships in this release
are forward-looking statements. Actual future results, including
project plans, partner participation, timing, capacities, and costs
could vary depending on the ability to execute operational
objectives on a timely and successful basis; the ability to scale
projects and technologies on a commercially competitive basis;
implementation and outcomes of carbon capture and storage projects;
timely completion of construction projects; commercial and consumer
interest in lower-emissions opportunities; the outcome of future
research and technology development programs, including the future
success of collaborative efforts; the development and pace of
supportive market conditions and policies including support for
carbon capture and storage and hydrogen; changes in laws and
regulations including environmental laws and taxes; changes in
plans or objectives prior to final funding decisions or project
startups; unforeseen technical or operational difficulties; changes
in supply and demand and other market factors affecting future
prices of oil, gas, and petrochemical products; 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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