ExxonMobil signs carbon capture pact with Nucor Corporation
SUMMARY
ExxonMobil will capture, transport, and store up to 800,000 metric tons/year of CO2 from Nucor's manufacturing site in Convent, Louisiana.
By Shardul SharmaPOSTED IN:
ExxonMobil Low Carbon Solutions on June 1 announced a new carbon capture and storage agreement with Nucor Corporation, a steel producer in North America.
Under the agreement, ExxonMobil will capture, transport, and store up to 800,000 metric tons/year of CO2 from Nucor's manufacturing site in Convent, Louisiana. The site produces direct reduced iron (DRI), a key material used in the production of high-quality steel products like automobiles, appliances, and heavy equipment.
This marks the third carbon capture agreement announced by ExxonMobil in the past seven months. Previous agreements were made with Linde, an industrial gas company, and CF Industries, a manufacturer of agricultural fertilizer. The cumulative impact of these agreements brings the total amount of CO2 that ExxonMobil has committed to transporting and storing for third-party customers to 5mn mt/year.
The Nucor project is expected to commence operations in 2026 and will utilise the same infrastructure for CO2 transportation and storage as the CF Industries project. The initiative aligns with Louisiana's goal of achieving net-zero CO2 emissions by 2050.
ExxonMobil Low Carbon Solutions is dedicated to developing and deploying emission reduction solutions for energy-intensive sectors of the economy, including industries like steel.
