Carbon capture and storage (CCS)
With a working interest in approximately one-fifth of the world’s total carbon capture capacity, ExxonMobil is a leader in one of the most important next-generation low-greenhouse gas emissions technologies, capturing about 7 million tonnes per year of CO2. Since 1970, ExxonMobil has cumulatively captured more CO2 than any other company — accounting for more than 40 percent of cumulative CO2 captured.
Reducing carbon emissions
CCS is the process by which carbon dioxide from power-plant combustion and other industrial sources that would otherwise be released into the atmosphere is captured, compressed and injected into underground geologic formations for safe, secure and permanent storage.
ExxonMobil is working to develop new CO2 capture technologies with a goal of reducing costs, complexity of operation and need for large initial capital allocations. For example, ExxonMobil and FuelCell Energy, Inc., have partnered to develop CO2 capture technologies using carbonate fuel cells. These novel approaches have the potential to be less costly and easier to operate than existing technologies, while being deployable in a modular fashion with applicability to multiple industry settings.
ExxonMobil is also developing sub-surface CO2 storage capability by leveraging decades of experience in the exploration, development, and production of hydrocarbon resources. This expertise is key to permanently storing CO2 deep underground in a safe and secure fashion.
Breakthroughs like the deployment of carbonate fuel cells at power plants are essential for reducing emissions, while at the same time increasing power generation and limiting costs to consumers.