ExxonMobil Joins Acorn CCS Project
ExxonMobil (NYSE: XOM) has announced that it has signed a Memorandum of Understanding to participate in the Acorn carbon capture and storage (CCS) project in Scotland.
The project plans to capture and store approximately five to six million tons of CO2 per year by 2030 from gas terminals at the St Fergus complex at Peterhead, Scotland, which includes ExxonMobil’s SEGAL joint venture gas terminal, ExxonMobil outlined. The development has the potential to provide more than half of the ten million tons per year of CO2 storage targeted by the UK government and, when expanded, has the potential to store more than 20 million tons of CO2 emissions per year by the mid-2030s, ExxonMobil highlighted.
“ExxonMobil has more than 30 years’ experience in CCS technology and is advancing plans for more than 20 new CCS opportunities around the world,” Joe Blommaert, the president of low carbon solutions at ExxonMobil, said in a company statement. “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,” he added.
In addition to its Acorn project announcement, ExxonMobil revealed that it has joined NECCUS, an alliance of industry, government, and academic experts committed to reducing carbon emissions from industrial facilities in Scotland. ExxonMobil said its membership will help the alliance explore the potential of technology-driven solutions to reduce emissions by drawing on its extensive global experience with carbon capture and storage.
“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 stated. “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,” he added.
Mike Smith, the chief executive officer of NECCUS welcomed ExxonMobil to the alliance.
“Decarbonizing industrial emissions will be a challenging but essential part of meeting the national 2045 net zero target,” Smith said. “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,” he added.
“Collaboration across the organizations within NECCUS will be essential to this ambition, and the experience ExxonMobil brings will enhance this collaboration,” Smith continued.
ExxonMobil describes itself as the industry leader in CCS technology. 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, according to its website.
To contact the author, email andreas.exarheas@rigzone.com
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