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Climate solutions
Carbon capture and storage
Providing industry solutions needed to help reduce emissions during the energy transition.
CCS development
A look at how carbon capture and storage works
Carbon capture and storage (CCS) is the process of capturing CO2 that would otherwise be released into the atmosphere, and injecting it into deep geologic formations for safe, secure and permanent storage. The United Nations Intergovernmental Panel on Climate Change and the International Energy Agency agree that CCS is one of the most important low-carbon technologies required to achieve societal climate goals at the lowest cost. CCS is a readily available technology that can reduce emissions at scale from sectors like refining, chemicals, cement and steel sectors, and power generation.
Critical technology
The International Energy Agency calls carbon capture and storage one of the critical technologies required to achieve net-zero emissions and the climate goals outlined in the Paris Agreement.In the field
Policy is key in how industry can scale carbon capture and storage
Carbon capture and storage is one of the few proven technologies with the potential to significantly reduce emissions from certain hard-to-decarbonize sectors, such as manufacturing and heavy industry. However, new U.S. policies are needed to spur the investment required to deploy CCS at such a pace and scale. Here are the key and immediate actions required to continue moving forward:
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Enhance the CCS Production Tax Credit (45Q) for non-EOR (enhanced oil recovery)
- Initially increase value to ~$100 per metric ton from current $85
- Extend eligibility period to 30 years from current 12 years
- Eliminate deadline for starting construction
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Ensure government approval for CO2 storage
- Specifically allow offshore storage of CO2 from sources other than coal
- Authorize the Bureau of Ocean Energy Management to issue leases, rights of way and pore space
- Clarify that the U.S. Environmental Protection Agency has authority for permitting CO2 injection in subsea formations
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Provide financial support for CCS infrastructure
- Provide a $10 billion grant to help develop infrastructure in Houston by extending current U.S. Department of Energy programs beyond research, development and demonstration (RD&D)
- Expand the U.S. Department of Energy Title XVII program to include the deployment of existing CCS technologies at scale
- Amend TIFIA (Transportation Infrastructure Finance and Innovation Act) to add CCS projects, or create a program dedicated to CCS
"With our demonstrated leadership in carbon capture and emissions reduction technologies, ExxonMobil is committed to meeting the demand for affordable energy while reducing emissions and managing the risks of climate change."
Darren Woods
CEO, ExxonMobil
Explore more
Ask a carbon capture expert: Dr. Prasanna Joshi
Carbon capture Perspective • June 8, 2023
The people driving ExxonMobil’s net-zero ambition: Erik Oswald
Carbon capture Perspective • Aug. 16, 2022
A small community with a big role: Helping reduce GHG emissions
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Carbon capture: Creating jobs, cutting emissions
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Carbon capture Perspective • Feb. 1, 2023
Leading the way to a lower carbon future in Asia Pacific
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Low Carbon Solutions
Low Carbon Solutions is helping to lower emissions by providing solutions to our industrial and commercial customers in growing markets for carbon capture and storage, hydrogen and lower emission fuels.
What we do
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Delivering industrial solutions
Supporting industry to reduce emissions.
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Materials for modern living
Creating innovative solutions that make modern life possible.
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LOWER-EMISSION TRANSPORTATION
Continuing to reduce emissions today and into the future.