Frequently asked questions
Frequently asked questions
Also referred to sometimes as carbon capture and sequestration, it is the process by which carbon dioxide from power-plant combustion and other industrial sources that would otherwise be released into the atmosphere is captured, compressed and injected into underground geologic formations for safe, secure and permanent storage.
To commercialize and deploy technologies that will have a demonstrable impact on lowering emissions. The initial focus will be on carbon capture and storage, where ExxonMobil has industry-leading experience and capabilities including more than 30 years of experience in design, construction and operation of CCS facilities and an equity share in about one-fifth of global CO2 capture capacity. The business will also leverage ExxonMobil’s significant experience in the production of hydrogen which, when coupled with CCS, is likely to play a critical role in a lower-carbon energy system. Other areas will include our work on advanced biofuels, including algae biofuels; developing lightweight materials and packaging; and advancing high-performance synthetic lubricants and premium fuels.
ExxonMobil believes, and experts agree, that CCS will need to play a critical role if the United States and other countries are to meet the emissions-reduction goals outlined in the Paris Agreement. In 2018, we formed a carbon capture venture to identify and develop potential CCS opportunities using established and emerging technologies. Today we have more than 20 opportunities under evaluation around the world. With the increasing government focus, growing market demand and additional investor interest, we are increasing our emphasis in this area through the establishment of ExxonMobil Low Carbon Solutions, positioning us to participate even more effectively in global efforts to deploy CCS at scale. This new business will continue to progress the ongoing venture work while looking to expand other commercial opportunities from our extensive low-carbon technology portfolio.
In the upstream, ExxonMobil programs focus on reducing methane emissions, flaring and venting. Downstream emission-reduction efforts include cogeneration, a process that simultaneously produces electricity while capturing useful heat or steam for industrial uses. We also continue research in equipment design, advanced separations, catalysis and process configurations as part of broader efforts to advance energy-efficient manufacturing. We recently announced plans to reduce the intensity of operated upstream greenhouse gas emissions by 15 to 20 percent by 2025, compared to 2016 levels. This will be supported by a 40 to 50 percent decrease in methane intensity, and a 35 to 45 percent decrease in flaring intensity across our global operations. The 2025 emission reduction plans are expected to reduce absolute greenhouse gas emissions by an estimated 30 percent for the Company’s upstream business. Similarly, absolute flaring and methane emissions are expected to decrease by 40 to 50 percent.