Carbon Capture and Storage Gains Wide Industry Support in Houston

[ad_1]

HOUSTON, Sept. 16, 2021 /PRNewswire/ — Eleven companies have expressed interest in supporting the large-scale deployment of carbon capture and storage (CCS) technology in Houston. Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips 66 and Valero have agreed to begin discussing plans that could lead to capturing and safely storing up to 50 million metric tons of CO2 per year by 2030 and about 100 million metric tons by 2040.

The companies plan to help address industrial CO2 emissions in one of the largest concentrated sources in the United States. Collectively, the 11 companies are considering using CCS technology at facilities that generate electricity and manufacture products that society uses every day, such as plastics, motor fuels and packaging.

If CCS technology is fully implemented at the Houston-area facilities these 11 companies operate, nearly 75 million metric tons of CO2 could be captured and stored per year by 2040. There are ongoing discussions with other companies that have industrial operations in the area to add even more CO2 capture capacity. They could announce their support at a later date and add further momentum toward the city of Houston’s ambitions to be carbon neutral by 2050.

Houston can achieve our net zero goals by working together, and it’s exciting to see so many companies have already come together to talk about making Houston the world leader in carbon capture and storage,” said Sylvester Turner, Mayor of Houston. “We’re reimagining what it means to be the energy capital of the world, and applying proven technology to reduce emissions is one of the best ways to get started.”

Wide-scale deployment of CCS in the Houston area will require the collective support of industry, communities and government. If appropriate policies and regulations are put in place, CCS could generate tens of thousands of new jobs, protect current jobs and reduce emissions at a lower cost to society than many other widely available technologies. The 11 companies will continue to advocate for policies that enable the long-term commercial viability of new, expanded and existing CCS investments in Texas.

CCS is the process of capturing CO2 from industrial activity that would otherwise be released into the atmosphere and injecting it into deep underground geologic formations for safe, secure and permanent storage. With supportive regulations, CO2 from the Houston industrial area could be safely stored in the U.S. Gulf Coast region in formations thousands of feet below the surface or seabed. The U.S. Department of Energy estimates that storage capacity along the U.S. Gulf Coast is enough to hold 500 billion metric tons of CO2 — more than 130 years of the country’s total industrial and power generation emissions, based on 2018 data.

Although renewables will continue to play an important role in a lower-carbon energy future, CCS is one of the few proven technologies that could enable some industry sectors to decarbonize, such as manufacturing and heavy industry. The International Energy Agency projects CCS could mitigate up to 15 percent of global emissions by 2040, and the U.N. Intergovernmental Panel on Climate Change (IPCC) estimates global decarbonization efforts could be twice as costly without CCS.

For more information, please visit www.HoustonCCS.com.

About the Companies:

About Calpine
Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources, with operations in major competitive wholesale and retail power markets across the U.S. Through wholesale power operations and our retail businesses, Calpine’s diverse team of approximately 2,300 employees serves customers across 22 states, Canada and Mexico. Calpine operates a fleet of 76 power plants representing nearly 26,000 MW of generation capacity. Environmental stewardship is fundamental to Calpine’s philosophy and culture; in addition to operating the largest geothermal facility in the world and the youngest, most efficient fleets of gas-fired power plants, Calpine has been a long-time advocate of the Clean Power Plan, Paris Agreement, carbon pricing and decarbonization.

“Calpine is working hard to advance carbon capture projects at its Houston-area cogeneration facilities and is proud to support this endeavor,” said Caleb Stephenson, executive vice president of commercial operations at Calpine. “But this is just the beginning of what we can accomplish with the right policies, including the enhanced 45Q credit that climate champions are now advancing in Congress. For economy-wide change, we must take advantage of the opportunities available right now to build on the expansion of clean energy with innovative solutions that can quickly and effectively address emissions that other technologies leave behind. For Calpine, this is a natural part of a comprehensive strategy that includes our own major investments in geothermal, grid-connected storage, and high-efficiency plants to power a cleaner future.”

About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering carbon intensity in our operations and growing lower carbon businesses. More information about Chevron is available at www.chevron.com.

Carbon capture and storage has a critical role to play in advancing a lower carbon future,” said Jeff Gustavson, president of Chevron New Energies. “Success will require collaboration across energy partners, government and other industries. Chevron looks forward to leveraging our unique capabilities and helping build partnerships in Houston that can enable this technology.”

About Dow
Dow combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through our materials science expertise and collaboration with our partners. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $39 billion in 2020. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.

“Many countries around the world are investing in carbon capture and storage infrastructure, as they understand the importance of CCS to decarbonize industrial sector emissions,” said Jack Broodo, president of Dow Feedstocks and Energy Business. “The U.S. has an opportunity, as evidenced by this collection of willing companies, to invest in the infrastructure that will keep us competitive, generate tens of thousands of new jobs and signal to the world that the U.S. is committed to leading a low carbon emission economy.”

About ExxonMobil
ExxonMobil has more than 30 years’ experience in CCS technology and is advancing plans for multiple new CCS opportunities around the world. In March, ExxonMobil established a Low Carbon Solutions business to commercialize low-emission technologies. ExxonMobil is an industry leader in CCS technology. The company has an equity share in about one-fifth of global CO2 capture capacity and has captured approximately 40 percent of all the captured anthropogenic CO2 in the world. To learn more, visit exxonmobil.com, the Energy Factor and Carbon capture and storage | ExxonMobil.

“ExxonMobil is pleased to work with these companies to draw upon our collective global expertise in CCS, and explore and execute potential technology-driven solutions to reduce emissions in Houston,” said Joe Blommaert, president of Low Carbon Solutions at ExxonMobil. “We can meet our goals in reducing industrial emissions together.” 

About INEOS
INEOS USA LLC,…

[ad_2]

Read More: Carbon Capture and Storage Gains Wide Industry Support in Houston