ExxonMobil Announces Major Progress In Carbon Capture Project
My new story at Forbes provides all the details. Thanks to Dan Ammann for taking the time to chat this morning.
Excerpt from the story:
ExxonMobil continued the advancement of its carbon capture and storage plans with a pair of major announcements this week.
Dan Ammann, President of ExxonMobil’s ExxonMobil Low Carbon Solutions business unit, used his account at LinkedIn Wednesday to release information related to an agreement with the New Generation Gas Gathering (NG3) project currently under construction in Louisiana to become the latest in a series of major #CO2 emitters who will provide volumes to be injected into ExxonMobil-managed underground storage. Operated by M6 Midstream, the NG3 system will be able to move a projected 1.7 billion cubic feet (bcf) of gas per day from wells in the Haynesville Shale region of northwest Louisiana to facilities along the Gulf Coast.
Ammann said the deal with NG3 is the 5th #CCS agreement ExxonMobil has executed with major emitters, including previous deals with #NucorSteel, chemicals company Linde, and CF Industries. He also noted that the agreement with NG3 is the first involving a natural gas gathering company, and brings the total CO2 planned to store for customers to 6.7 million metric tons annually.
Thursday morning, ExxonMobil announced it has entered into an agreement with the General Land Office of Texas to lease 271,000 acres in state waters of the Gulf of Mexico that will add to its already existing capacity to store massive volumes of carbon dioxide in deep underground formations.
In an interview, Ammann told me the company views this acreage as “the largest and most attractive from a geologic point of view” available along the Gulf Coast. As shown in the map below, the large tract of acreage also has the advantage of lying directly adjacent to the CO2 gathering system acquired by ExxonMobil in its $4.9 billion purchase of Denbury Resources in July, 2013. The company points out in its release that it is the largest CO2-dedicated pipeline system in the U.S., enabling ExxonMobil to be uniquely situated to execute a CCS-related project of this magnitude.
You can read the rest at the link below. Enjoy!
https://lnkd.in/gkMJyfxc
Managing Director | Australian Headquartered Global Resources Company
2moCourtney Morgan-Evans 💪🏼