Exxon Mobil Corporation has executed the largest offshore carbon dioxide (CO2) storage lease in the US with the Texas General Land Office (GLO). The over 271 000 acre site complements the onshore CO2 storage portfolio ExxonMobil is developing, and further solidifies the US Gulf Coast as a carbon capture and storage (CCS) position.
“This is a sign of our commitment to CCS,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “With our roster of customers ready to deploy CCS, we’ll be driving substantial emissions reductions along the Gulf Coast through a solution that includes capture, transportation, and storage.”
Offshore acreage provides much-needed storage space for CO2 emissions with the Gulf of Mexico’s vast potential playing a key role in meeting society’s net-zero goals. ExxonMobil operates the largest CO2 pipeline network in the US and is well-positioned to leverage its infrastructure and storage space to deliver an end-to-end solution.