ExxonMobil is undertaking early studies to determine the potential for carbon capture and storage (CCS) to reduce greenhouse gas emissions from multiple industries in the Gippsland Basin, according to RigZone.
The Southeast Australia carbon capture and storage hub (SEA CCS) would initially use existing infrastructure to store CO2 in the depleted Bream field off the coast of Gippsland, Victoria.
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The company said it was in active discussions with local industries that may be interested in accessing the SEA CCS hub to reduce emissions from their operations.
ExxonMobil says the project is designed to capture up to 2 million metric tons of CO2 per year. If technical and business feasibility is confirmed, the SEA CCS hub could be operational by 2025.
“Collaboration with other industries is an important step to unlock future carbon capture and storage opportunities for Australia, with the potential for large-scale reductions in the highest emitting industrial sectors,” ExxonMobil Low Carbon Solutions president Joe Blommaert said.
“Sound government policies will accelerate the deployment of key technologies required to support society’s ambition for a net-zero future.”
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ExxonMobil established its Low Carbon Solutions business to commercialise the company’s extensive lower-emission portfolio with the objective to create long-term shareholder value and support global emission-reduction efforts.
Low Carbon Solutions is focused on commercialising lower-emission business opportunities in carbon capture and storage, hydrogen and lower-emission fuels by leveraging the skills, knowledge and scale of ExxonMobil.
