Exxon gas prices near me11/5/2023 The cornerstone of Exxon’s approach towards CCS innovation is to “deploy solutions that are available to be deployed at scale,” he said. Through Exxon’s own innovations, as well as collaboration, Joshi said the company is intent on building out those projects. ![]() ![]() In the past two decades, the company has cumulatively captured more CO 2 than any other company – 120 million metric tons, or approximately 40% of all the CO 2 produced by human activity. Over the past 30 years, the supermajor has been involved in CCS and today Exxon has a capture capacity of 9 million tonnes per annum (mtpa). “We are color agnostic, but blue hydrogen is something that we are focusing on because technology is available to be deployed today, both for manufacturing the hydrogen efficiently at scale and capturing the carbon emissions at the backend,” Joshi said.Įxxon itself has extensive experience with carbon capture and storage (CCS). Blue hydrogen, as opposed to green hydrogen, is derived from fossil fuels. This facility, which is expected to begin producing in 2027-2028, is expected to be the “largest blue hydrogen project in the world, producing 1 Bscf/d of hydrogen,” according to Joshi. Honeywell’s carbon capture solvent solutions are used in Exxon Mobil's Baytown low-carbon hydrogen, ammonia and carbon capture facility outside of Houston. “And then, technologies that are already mature, we go and license those things.”Įxxon’s licenses include carbon capture technology from both Mitsubishi Heavy Industries and Honeywell. “For technologies that have significant runway, but we necessarily don't have anything in our own kit, we partner,” he said. Where Exxon doesn’t have its own expertise, it is enlisting partners and licensing technologies. ![]() Then we are working on a few advanced hydrogen technologies,” starting with natural gas.Įxxon has allocated $17 billion to the development and implementation of low-emissions projects over the next five years. “A few examples are direct air capture, is something that is exciting in our portfolio. “Technologies that have longer runway or significant runway, where we can add our competitive advantage and capabilities, we are doing it in-house,” Joshi said. In an exclusive interview, Prasanna Joshi, vice president of the company’s Low Carbon Solutions technology portfolio, told Hart Energy the company is already rolling out new technologies or partnering with others to move ahead. CALGARY, Alberta – Exxon Mobil Chairman and CEO Darren Woods was clear at the opening of the World Petroleum Congress that advancement and breakthroughs in technologies are needed to tackle global emissions.Įxxon, of course, isn’t waiting for someone else to develop those technologies.
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