Exxonmobil Enters into Carbon Capture Agreement with Nucor

Decarbonization Exxonmobil Enters into Carbon Capture Agreement with Nucor

2023-06-02 Source: Press release Ahlam Rais 1 min Reading Time

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Exxonmobil has signed a carbon capture agreement with Nucor Corporation under which the firm will capture, transport and store up to 800,000 metric tons per year of CO2 from Nucor’s manufacturing site in Convent, Louisiana.

The site produces direct reduced iron, a raw material used to make high-quality steel products including automobiles, appliances and heavy equipment. (Source: Pixabay) — The site produces direct reduced iron, a raw material used to make high-quality steel products including automobiles, appliances and heavy equipment.
(Source: Pixabay)

Texas /USA – Exxonmobil has plans to capture, transport and store up to 800,000 metric tons per year of CO2 from Nucor’s manufacturing site in Convent, Louisiana. The site produces direct reduced iron (DRI), a raw material used to make high-quality steel products including automobiles, appliances and heavy equipment. It’s the third carbon capture agreement the firm has announced in the past seven months, following previous ones with industrial gas company Linde and CF Industries.

“Our agreement with Nucor is the latest example of how we’re delivering on our mission to help accelerate the world's path to net zero and build a compelling new business,” said Dan Ammann, president of Exxonmobil Low Carbon Solutions. “Momentum is building as customers recognize our ability to solve emission challenges at scale.”

The Nucor project, expected to start up in 2026, will tie into the same CO2 transportation and storage infrastructure as utilized by the firm's CF Industries project, and supports Louisiana’s objective of reaching net-zero CO2 emissions by 2050.

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