2024: A breakout year for our carbon capture and storage business

A look ahead to 2025

In 2025, we plan to finish building the 2.3-mile pipeline that will connect our first customer – CF Industries’ ammonia plant in Donaldsonville, La. – into our CCS network and start sending its CO₂ emissions – up to 2.2 MTA a year – into our network instead of into the atmosphere.

That will be a “wow” moment for us, for two reasons:

• The flow of those first CO₂ molecules will mark the start of a new chapter for our company; while ExxonMobil has used CCS technology for decades, we will now be using it to achieve large-scale reductions in emissions from key industries, including our own.
• It also will mark the start of our “commercial” CCS industry in the United States. Such commercialization is essential to growing CCS at scale.

And we’re only just getting started. We estimate our U.S. Gulf Coast network can ultimately remove up to 100 MTA of captured CO₂ – more than seven times the amount we’ve currently committed to.  

Our system can help decarbonize a range of industries. We recently announced a first-of-its-kind plan to use CCS to help make low-carbon electricity for data centers to help meet growing demand for computing power driven by artificial intelligence.

And we’ll use CCS to help decarbonize our own operations, too. In 2025, ExxonMobil plans to start up the CCS expansion at our facility in LaBarge, Wyoming; this project will reduce the site’s emissions by 1.2 MTA and support our ambition to achieve net zero greenhouse emissions (Scopes 1 and 2) for operated assets by 2050.

All this progress can help position the U.S. as a global leader in low-carbon energy. It’s also a tribute to our workforce, who are leveraging many of the same talents – in geology, engineering and project expertise – that make our traditional oil, gas, and chemicals businesses such a success.

Twenty years ago, in 2004, a special report by the International Energy Agency called CCS a “promising option” for reducing CO₂ emissions at a reasonable cost.

Today, I’m thrilled to see CCS moving from promise to reality – with ExxonMobil leading the way.

^{*Includes: up to 6.7 MTA contracted for third-party customers; up to 7.5 MTA for the Baytown low-carbon hydrogen project, pending FID.}