Consortium to Explore Development of Large-Scale CCS Project in China

Carbon Neutrality Consortium to Explore Development of Large-Scale CCS Project in China

2022-06-28 Source: Press release Ahlam Rais

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Exxonmobil, Cnooc and Shell have plans to assess the potential of developing a mega carbon capture and storage (CCS) project in China with an aim to reduce greenhouse gas emissions. The project is expected to capture up to 10 million metric tons of CO2 annually.

Initial assessments of the project indicate the potential to capture up to 10 million metric tons of CO2 per year from Dayawan’s industrial sector, supporting China’s ambition of carbon neutrality by 2060. (Source: Pixabay) — Initial assessments of the project indicate the potential to capture up to 10 million metric tons of CO2 per year from Dayawan’s industrial sector, supporting China’s ambition of carbon neutrality by 2060.
(Source: Pixabay)

Texas/USA – Exxonmobil, Shell, Cnooc, and Guangdong Provincial Development & Reform Commission have signed a Memorandum of Understanding to evaluate the potential for a world-scale carbon capture and storage project to reduce greenhouse gas emissions at the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province, China.

In addition to assessing the commercial opportunity for carbon capture and storage in one of China’s largest industrial areas, the companies will also evaluate the carbon policy systems in China and propose policies for consideration that would support the deployment of carbon capture and storage in Dayawan Petrochemical Industrial Park.

Initial assessments of the project indicate the potential to capture up to 10 million metric tons of CO2 per year from Dayawan’s industrial sector, supporting China’s ambition of carbon neutrality by 2060. The project could also serve as a model for the chemical industry as one of the first petrochemical projects to be decarbonized.

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“Collaboration with government and industry is an important part of unlocking future carbon capture and storage opportunities, with the potential for large-scale reductions of emissions from vital sectors of the global economy,” said Dan Ammann, president of Exxonmobil Low Carbon Solutions. “Well-designed government policies will help accelerate the broad deployment of lower-emissions technologies in support of society’s net-zero ambitions.”

While renewable technologies are important to help reach society’s net-zero objectives, carbon capture and storage are a safe, proven and consistent technology that can enable some of the highest-emitting sectors such as manufacturing, power generation, refining, petrochemical, steel, and cement industries to reduce their emissions. The prospect of bringing together public and private entities to utilize carbon capture and storage collectively to reduce industrial emissions offers tremendous opportunity.

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