The S-Hub consortium, consisting of ExxonMobil Asia Pacific and Shell Singapore, has been selected to work with the government of Singapore as lead developers for a cross-border carbon capture and storage (CCS) project.
S-Hub and the Singapore Economic Development Board (EDB) signed a memorandum of understanding in December to coordinate the planning and development of a CCS project, capable of capturing and permanently storing at least 2.5 million tons of carbon dioxide a year, by 2030. Commitment to proceed will be subject to definitive agreements between the parties.
Capturing 2.5 million tons is roughly equivalent to replacing approximately 1 million gasoline-powered cars with electric vehicles.
“Carbon capture and storage has the potential to be a key decarbonization pathway for Singapore, especially for sectors with hard-to-abate emissions such as energy and chemicals, power, and waste,” said Lim Wey-Len, executive vice president for the EDB.
The S-Hub project plans to capture and securely store carbon dioxide emissions from Singapore deep underground or under the seabed. Storage sites will be selected after undergoing analysis to ensure suitability.
Irtiza Sayyed, president of ExxonMobil’s Low Carbon Solutions Asia Pacific, said, “Our extensive experience managing and building complex cross-border projects, coupled with our core capabilities in CCS, gives us the confidence to accelerate Singapore and the region’s path to net zero.”