Carbon capture and storage
The duo plans to launch projects that will lead to commercialization of applications and products, initially focusing on solid oxide fuel cell technology and lightweight gas-turbine technology.
The planned LNG export facility will host a large carbon capture and storage project to enable the permanent geologic storage of more than 5 million tonnes of carbon dioxide per year.
The international supermajor is looking to make Houston and the US Gulf Coast a major hub for carbon capture and sequestration. A recent peer-reviewed SPE paper offers insights on the type of formation the company may target if the project takes shape.
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The carbon tax endorsement was just one part of a broader plan the group said will be required to combat climate change. -
The duo also plan to develop and mature new technologies across the carbon-capture value chain.
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Occidental Petroleum’s CEO Vicki Hollub said she plans to transform her oil and gas business into a carbon management company and to break ground next year on a direct air capture facility that will suck carbon dioxide out of the atmosphere in the Permian Basin, the country’s most prolific oil field.
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A new white paper reports that Houston is better poised than anywhere else in the US to play a far more significant role in reducing emissions from industrial sources.
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Chevron is partnering with Microsoft, oilfield services firm Schlumberger, and privately held Clean Energy Systems to build a carbon capture plant in California, as the US oil major expands investments in renewable technology.
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The Biden administration wants green investment, jobs to stay stateside in emerging $23-trillion global market.
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The group of three companies says it is looking to provide solutions for a more alternative-energy-driven landscape.
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Carbon capture, utilization, and storage can play a role in attaining net zero emissions, helping the planet achieve climate goals, and increase oil and gas production at the same time.
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There is little question that carbon capture, storage, and utilization is destined to become one of America’s big growth industries in the years to come.
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The US oil giant is launching a new business unit that will boost its ability to reduce its own greenhouse gas emissions along with those of other industries.
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