ExxonMobil has started the early front-end engineering design studies (pre-FEED) for carbon capture and storage potential to reduce GHG emissions from multiple industries in the Gippsland Basin in Australia.
The South East Australia carbon capture and storage facility will capture approximately 2 million metric tons of CO2 per year, initially using existing infrastructure for storage in the depleted Bream field off the coast of Gippsland. The firm is in talks with local industries, which may want to access the hub to reduce emissions from their operations.
“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," ExxonMobil Low Carbon Solutions President Joe Blommaert said. "Sound government policies will accelerate the deployment of key technologies required to support society’s ambition for a net-zero future.”
The hub may be operational by 2025, once the technical and business feasibility is confirmed.
ExxonMobil’s Low Carbon Solutions business focuses on commercializing lower-emission business opportunities in lower-emission fuels, hydrogen and carbon capture and storage by leveraging ExxonMobil’s expertise in the area. It holds an equity share of about one-fifth of the carbon capture and storage capacity worldwide.
Last year, the oil giant announced an ambitious and potential $100 billion carbon capture project in the Houston refinery region.
