Exxon Mobil begins studies for a carbon storage hub in SE Australia

April 14 (Reuters)Exxon Mobil Corp. XOM.N said on Thursday it had begun design studies for its carbon capture storage (CCS) center in southeast Australia, similar to its project in Houston, Texas, to reduce emissions from industries of the Gippsland Basin.

The CCS hub would use existing infrastructure to store carbon dioxide in the depleted Bream field off the coast of Gippsland in Victoria state, the US energy major said.

CCS traps emissions and buries them underground but is not yet at the commercial stage.

Exxon said it is in talks with local emissions-intensive industries that may be interested in using the hub to reduce greenhouse gas emissions from their operations.

“Collaborating with other industries is an important step in unlocking future carbon capture and storage opportunities for Australia, with the potential for large-scale reductions in the most emitting industrial sectors,” said Joe Blommaert. , president of ExxonMobil Low Carbon Solutions.

The largest US oil producer is also planning a hydrogen production plant and CCS project at its Baytown refinery near Houston, Texas, in a bid to reduce its carbon footprint while making a profit.

Carbon capture infrastructure for the Australian project would have the capacity to store up to two million metric tons of carbon dioxide per year and could be operational by 2025 if technical and commercial feasibility is confirmed, Exxon said. .

(Reporting by Riya Sharma in Bengaluru; Editing by Krishna Chandra Eluri)

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