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What’s Awaiting Carbon Capture in 2023?

Guest Post | November 21, 2022

industrial carbon capture - What's Awaiting Carbon Capture in 2023?

Industrial carbon capture (CCS) is a process for making industrial processes less carbon intensive.

This technology involves capturing CO2 and storing it in a liquid or gas form. There are five main methods of CCS. These involve storing CO2 onshore, offshore, in saline aquifers, or in depleted gas fields.

Exxonmobil

ExxonMobil is exploring ways to use carbon capture to reduce its emissions.

The company is committed to achieving a carbon-neutral future and is working with partners to find ways to fund the project. Exxon plans to seek government funds, including grants and loans, for the project.

The company also hopes to partner with other industrial firms. For instance, it would be able to tap the expertise of Air Liquide, which has been using Cryocap technology at its Port Jerome unit in Normandy, France, since 2015. The company would add expertise in liquefaction and carbon capture technologies.

The project would also use existing infrastructure to collect carbon dioxide and store it underground. Exxon expects to achieve an annual capacity of 50 million metric tons by 2030 and double that figure by 2040.

In addition to the pipelines, it plans to build infrastructure to permanently store and transport the captured carbon dioxide. The Porthos infrastructure will be located about 20 km off the Dutch coast and deep within the North Sea.

The company's current plan calls for the project to be completed by 2023.

The company has announced a partnership with CF Industries, a global manufacturer of nitrogen and hydrogen products.

The partnership will involve the installation of a $198.5 million carbon dioxide dehydration unit at CF's ammonia production facility in Donaldsonville.

The CO2 will be transported through EnLink Midstream's pipeline network to an underground facility in Vermilion Parish, Louisiana.

Occidental

Occidental Carbon Capture in 2023 is one of the first industrial-scale projects aiming to capture carbon emissions.

Adding this technology could be a game-changer for the company. The company has a negative reputation as a polluter, but adding direct air capture to its operations will allow it to change its image.

In fact, Occidental has already publicly announced that it plans to position itself as a "carbon management company."

Occidental's CEO has been in the carbon capture industry for 40 years and has formulated a strategy to transition away from organic CO2 and anthropogenic carbon emissions. The company aims to reach net-zero emissions from its operations and product use by 2050.

Western Midstream is thrilled about the partnership. The two companies will collaborate on projects to capture carbon emissions. And Western Midstream is excited to be working with Occidental.

As the first major corporation in the sector, Occidental is positioning itself to be the company that can lead the way. The company has announced that it plans to build an air capture plant in

Texas that will capture 1 million tonnes of carbon dioxide per year. Construction on the initial project is expected to begin in the second half of this year, and startup is expected to be complete by 2024.

In an effort to reduce carbon emissions, Occidental is licensing a technology to capture carbon emissions in the air. The company will fund the project with an investment from Canadian startup 1PointFive.

In addition, the company plans to raise additional capital from outside investors. Its partners include United Airlines Holdings Inc.

Occidental's Permian Dac Project

The Permian DAC project will be the largest direct air capture (DAC) plant in the world when it is complete.

Oxy plans to invest between $800 million and $1 billion to build the facility, which it hopes to open in 2023. It will use captured CO2 for EOR in the Permian and expects to reduce carbon emissions by 15 percent to 20 percent over a decade.

The company has partnered with a Canadian start-up to develop the technology. It will finance the plant through a subsidiary, 1PointFive, which is owned by Oxy Low Carbon Ventures and Rusheen Capital Management LLC.

It plans to attract additional outside investors to finance the plant. Occidental, for its part, has a stake in Occidental.

The first DAC plant will be the largest in the world. It will be operational in late 2024 and will capture up to 500,000 metric tons of CO2 per year. Oxy expects to scale this up to a million metric tons per year. The company plans to deploy up to 70 DAC facilities globally by 2035.

Occidental is positioning itself to be the first large corporation to enter this space. It recently announced plans to build a direct air capture facility in the Permian region of Texas that could capture up to 500,000 metric tons of carbon dioxide per year.

The company has already received approval for the initial project from a local school district and is expected to begin construction this year.

Occidental's Porthos Project

Occidental's new carbon capture project, called Porthos, aims to reduce CO2 emissions by using captured carbon in its enhanced oil recovery process.

CO2 is typically pumped into older wells where it penetrates the rock formations and acts as a soap to release crude. This project would eliminate the need to transport CO2 to the refinery, and would also allow Occidental to become carbon neutral by 2050.

In the future, carbon capture technologies will continue to be a hot topic on the environmental stage. Companies like Occidental and 1PointFive are working to develop the technology to reduce carbon emissions from fossil fuels.

This growth is a welcome development for free-market environmentalists.

Occidental plans to start commercializing DAC technology by licensing it from a Canadian start-up. The company will fund the project through a joint venture called 1PointFive, which is owned by Oxy Low Carbon Ventures and Rusheen Capital Management LLC.

The company is also looking for outside investors to help finance the project. Occidental and 1PointFive are both publicly-listed companies, and the company holds stakes in both companies.

The Porthos CCS plant will start operating in 2023, and it is expected to store 2.5 million tonnes of CO2 per year. The project will be the largest direct air capture facility in the world.

Construction is scheduled to begin in the second half of this year. The company plans to develop a profitable business using CO2 extraction and providing CO2 underground.

Sempra Energy's Underground Co2 Storage Project

Sempra Energy is planning an underground CO2 storage project in the Gulf of Mexico, which could help reduce its CO2 emissions by 15%.

It filed an application with the Environmental Protection Agency last year to build the project, which could consist of three injection wells. Using the technology of carbon capture and sequestration, the company can store CO2 underground, where it can be used for a variety of purposes.

The company is partnering with a number of companies, including TotalEnergies and Mitsui & Co., Ltd., to develop the project in Louisiana. It is also working on a carbon capture hub in southwest Louisiana, which could provide an anchor source for CO2 capture.

While carbon sequestration has received more attention in recent years, its costs and safety have been questioned. In addition, Sempra is a major player in the LNG export market. Its new $10 billion Cameron LNG facility is expected to start shipping LNG this year, and it is developing an export component of its LNG facility in Ensenada, Mexico.

It has also partnered with the Mexican government to build another LNG export facility in Topolobampo, on the Gulf of California.

Carbon capture and storage technologies are critical to the clean energy transition.

Takeaway

Carbon capture and storage technologies (CCS) are a critical part of the fight against climate change. Companies like Occidental, 1PointFive, and Sempra Energy are working on developing these technologies to help reduce emissions.

See:  Canada’s Low-Carbon Tech opportunity is now or risk another familiar story

CCS can be used in a variety of ways, from reducing emissions from fossil fuels to storing CO2 underground. While there are still some hurdles to overcome, such as costs and safety concerns, CCS is a promising technology that could make a big impact in the fight against climate change.


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