US energy giant ExxonMobil is undertaking initial design studies to explore the potential for carbon capture and storage (CCS) off the coast of Victoria, Australia.
The company will take part in early front-end engineering design studies (pre-feed) as part of its drive to decarbonise multiple industries in Victoria’s Gippsland Basin.
Dubbed SEA CCS – or South East Australia CCS – hub, the project could capture up to 2 million metric tonnes of carbon dioxide (CO2) per year.
Already in discussion with local emissions-intensive industries, Joe Blommaert, President, ExxonMobil Low Carbon Solutions, commented on the importance of partnerships in carbon reduction, saying, “Collaboration with other industries is an important step to unlock future CCS opportunities for Australia, with the potential for large-scale reductions in the highest emitting industrial sectors.”
“Sound government policies will accelerate the deployment of key technologies required to support society’s ambition for a net-zero future.”
Low Carbon Solutions was established by ExxonMobil as a way to support global emission-reduction efforts through the commercialisation of if the company’s lower-emission portfolio.
The SEA CCS hub project is set to begin as early as 2025.