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SUMMARY

The project will come up at the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province.

By Shardul Sharma

POSTED IN:

Asia/Oceania China

ExxonMobil, Shell, CNOOC, and Guangdong Provincial Development & Reform Commission have signed a memorandum of understanding to evaluate the potential for a carbon capture and storage (CCS) project at the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province, China, ExxonMobil said on June 27. 

In addition to assessing the commercial opportunity for CCS, the companies will also evaluate the carbon policy systems in China and propose policies for consideration that would support the deployment of CCS in Dayawan Petrochemical Industrial Park. Initial assessments of the project indicate the potential to capture up to 10mn metric tons/year of CO2 from Dayawan’s industrial sector.

“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.” 

ExxonMobil said it is also pursuing strategic investments in biofuels and hydrogen to bring those lower-emissions energy technologies to scale for hard-to-decarbonise sectors of the global economy, by leveraging the skills, knowledge and scale of the business.