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Ahead of its annual stakeholder dialogue event, the Oil and Gas Climate Initiative (OGCI) has kickstarted a series of initiatives to facilitate carbon capture, use and storage (CCUS) and reduce emissions. The initiative is projected to unravel huge investments in CCUS and create the necessary conditions for a CCUS industry. The OGCI is looking to double the volume of CO2 currently stored worldwide before 2030.
Energy major, ExxonMobil and Mosaic Materials have entered into an agreement to work on reducing carbon dioxide from emissions sources. Mosaic has made progress in its research on a process involving porous solids to separate carbon dioxide from air or flue gas. Exxon has said that this agreement will add to its carbon capture technology research portfolio.
Chevron Corp yesterday informed about launching one of the world’s largest carbon capture and storage projects. The project involves infusing carbon dioxide into a deep reservoir under an island off Western Australia at Chevron’s Gorgon LNG project. Chevron said that approximately 3.4 to 4 million tonnes of CO2 will be buried every year after the facility reaches full capacity. Gases emitted from the Gorgon field contain at least 14% CO2.