Global oil giant ExxonMobil Corp. has secured an offshore carbon dioxide (CO2) storage site in Texas state waters of the Gulf Coast.
The 271,000-acre site granted by the Texas General Land Office not only supports the onshore CO2 storage portfolio under development by ExxonMobil but also builds the position of the U.S. Gulf Coast in carbon capture and storage. Several reports cited this as the largest CO2 storage site in Texas.
If all facets of the project are enacted, the oil giant may capture and remove as much as 7.5 million metric tons of CO2 from its Baytown oil refinery. The emissions will be buried in geologic rock formations under the seabed, according to reports.
The agreement will directly benefit the Texas Permanent School Fund and improve education for Texas children, while reducing emissions as well as promoting community development in nearby areas.
“With our growing roster of customers ready to deploy CCS, we’ll be driving substantial emissions reductions along the Gulf Coast through a comprehensive solution that includes capture, transportation, and storage—capabilities that make us a clear leader,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions.
Oil & Gas Journal: See Industry's Energy Transition in Action
Offshore land provides required storage space for CO2 emissions with the Gulf of Mexico’s large potential in meeting net-zero goals.
ExxonMobil operates the largest CO2 pipeline network in the U.S. and considers itself well-positioned to leverage its extensive infrastructure and storage space to deliver an end-to-end solution.
CO2 Capture is One of Many Paths to Net Zero
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