ExxonMobil wants to capture an additional one million metric tonnes of carbon dioxide (CO2) annually from its LaBarge, Wyoming facility, as it looks to increase the current six-seven million metric tonnes the facility already captures.
The multinational oil and gas corporation recently confirmed its approximately $400m carbon capture and storage (CCS) plans, stating that an investment decision is expected in 2022 and operations could start as early as 2025.
At present, the Wyoming facility captures more CO2 than any other facility in the world. On top of this, ExxonMobil currently holds an equity share in approximately one-fifth of global CO2 capture capacity and has captured approximately 40% of all captured anthropogenic CO2 globally.
Joe Blommaert, President of ExxonMobil Low Carbon Solutions, said, “The expansion of our carbon capture and storage operations at LaBarge underscores our commitment to advancing CCS projects around the world.
“The technology is critical to help meet society’s lower-emissions goals, and with the right policies in place, is immediately deployable. ExxonMobil has long supported policies that provide a predictable price on carbon emissions, which enable new or expanded carbon capture and storage investments.”
In addition to producing natural gas, ExxonMobil’s LaBarge facility in focus here is one of the world’s largest sources of helium and produces approximately 20% of global helium supply.