ExxonMobil and Shell selected to work with the Government of Singapore on a carbon capture and storage value chain

• ExxonMobil and Shell have formed an S-Hub consortium to evaluate and develop a cross-border carbon capture and storage (CCS) project for reducing carbon dioxide (CO2) emissions in Singapore
• CCS is expected to play a critical role in supporting large-scale emissions reduction, particularly from hard-to-decarbonize industries

SINGAPORE - The S-Hub consortium, comprising ExxonMobil Asia Pacific Pte. Ltd. and Shell Singapore Pte. Ltd., is proud to be selected to work with the Government of Singapore as lead developers for a cross-border carbon capture and storage (CCS) project.

S-Hub and the Singapore Economic Development Board (EDB) signed a Memorandum of Understanding in December 2023 to coordinate the planning and development of a CCS project, capable of capturing and permanently storing at least 2.5 million tons of CO2* a year, by 2030. Commitment to proceed will be subject to definitive agreements between the parties.

CCS is one of the few proven and safe solutions to reduce CO2 emissions at scale today from heavy industrial sectors such as steel, petrochemicals and cement.

The S-Hub project plans to capture and securely store CO2 emissions from Singapore deep underground or under the seabed. Storage sites will be selected after undergoing rigorous analysis to ensure their suitability.

ExxonMobil’s Low Carbon Solutions Asia Pacific President, Irtiza Sayyed said, “We are pleased to be selected to lead this opportunity in collaboration with the EDB, Shell, regional governments and other industry partners. Our extensive experience managing and building complex cross-border projects, coupled with our core capabilities in CCS, gives us the confidence to accelerate Singapore and the region’s path to net zero.”

Shell’s Global CCS Vice President Bernhard Koudelka, said, “As the lead CCS developers with ExxonMobil, we are proud to contribute to Singapore’s decarbonisation plans. With our global track record and deep expertise in developing CCS hubs with over 10 million tons of carbon dioxide captured to date, we have the experience needed in bringing together multiple partners and emitters to establish a complex cross border CCS network.”
 
The EDB’s Executive Vice President Lim Wey-Len said, “Carbon capture and storage has the potential to be a key decarbonisation pathway for Singapore, especially for sectors with hard-to-abate emissions such as energy and chemicals, power, and waste. We are pleased to appoint S-Hub to study and develop a CCS project with partners in the region. This is part of the government’s ongoing efforts to build a portfolio of decarbonisation measures to realise our climate change targets.”

*Capturing 2.5 million tons is roughly equivalent to replacing approximately 1-million gasoline-powered cars with electric vehicles. (ExxonMobil’s analysis is based on assumptions for the U.S. in 2022, including average distance travelled, fuel efficiency, average power grid carbon intensity, electric vehicle charging efficiency, and other factors. Gasoline-powered cars include light-duty trucks and SUVs.)

About ExxonMobil in Singapore
ExxonMobil Asia Pacific Pte Ltd (EMAPPL), is one of Singapore’s largest foreign manufacturing investors with over S$25 billion in fixed asset investments. Our manufacturing facilities include an integrated world-scale refining and petrochemical complex, as well as a lubricant plant. We provide customers and markets in the region with fuels, lubricants, petrochemicals and liquefied natural gas. ExxonMobil is also growing its lower-emission fuels portfolio and low carbon solutions business to bring emission-reduction solutions to the region. We have also invested in supporting research in Singapore for lower-emission pathways and sustainable solutions. For more information, visit https://www.exxonmobil.com.sg or follow us on LinkedIn and Instagram.

About Shell in Singapore
Shell is an international energy company that uses advanced technologies and takes an innovative approach to help build a sustainable energy future. Here in Singapore, Shell has a long history and is one of the country’s largest foreign investors. It has businesses spanning trading and marketing of liquefied natural gas; refining, trading, marketing and shipping of oil products, lubricants and chemicals; and operating a network of service stations through retailers, as well as electric vehicles charging. For more information, visit https://www.shell.com.sg/ or follow us on Facebook and Instagram.

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