Climate solutions

Carbon capture and storage

Providing industry solutions needed to help reduce emissions during the energy transition. 

CCS development

A look at how carbon capture works

Carbon capture and storage (CCS) is the process of capturing CO2 that would otherwise be released into the atmosphere from industrial activity, and injecting it into deep geologic formations for safe, secure and permanent storage. The United Nations Intergovernmental Panel on Climate Change and the International Energy Agency agree that CCS is one of the most important low-carbon technologies required to achieve societal climate goals at the lowest cost. CCS is a readily available technology that can reduce emissions at scale from high heat and high power industrial and manufacturing sectors like refining, chemicals, cement and steel sectors, where there are no other near-term solutions to mitigate CO2 emissions.

Critical technology

The International Energy Agency calls carbon capture and storage  required to achieve net-zero emissions and the climate goals outlined in the Paris Agreement. 

In the field

We have cumulatively captured more CO2 than any other company – 120 million metric tons – accounting for approximately 40 percent of all the anthropogenic CO2 that has ever been captured.

 

The story behind ExxonMobil's CCS work

Climate solutions

Our global reach: CCS around the world

Learn more about how we are advancing several carbon capture and storage opportunities around the world to help support our commitment to the Paris Agreement.
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Policy is key in how industry can scale carbon capture and storage

🎉Carbon capture and storage is one of the few proven technologies with the potential to significantly reduce emissions from certain hard-to-decarbonize sectors, such as manufacturing and heavy industry. However, new policies are needed to spur the investment required to deploy CCS at such a pace and scale. Here are the key and immediate actions required to continue moving forward:

  • Enhance the CCS Production Tax Credit (45Q) for non-EOR (enhanced oil recovery)

    • Initially increase value to ~$100 per metric ton from current $85
    • Extend eligibility period to 30 years from current 12 years
    • Eliminate deadline for starting construction

  • Ensure government approval for CO2 storage

    • Specifically allow offshore storage of CO2 from sources other than coal
    • Authorize the Bureau of Ocean Energy Management to issue leases, rights of way and pore space
    • Clarify that the U.S. Environmental Protection Agency has authority for permitting CO2 injection in subsea formations

  • Provide financial support for CCS infrastructure

    • Provide a $10 billion grant to help develop infrastructure in Houston by extending current U.S. Department of Energy programs beyond research, development and demonstration (RD&D)
    • Expand the U.S. Department of Energy Title XVII program to include the deployment of existing CCS technologies at scale
    • Amend TIFIA (Transportation Infrastructure Finance and Innovation Act) to add CCS projects, or create a program dedicated to CCS

    image of CEO, Darren Woods, presenting

     "With our demonstrated leadership in carbon capture and emissions reduction technologies, ExxonMobil is committed to meeting the demand for affordable energy while reducing emissions and managing the risks of climate change."

    Darren Woods
    CEO, ExxonMobil