ExxonMobil and Shell to work with Singapore government on CCS 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.

This comes as CCS is expected to play a critical role in supporting large-scale emissions reduction, particularly from hard-to-decarbonize industries.

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 CO21 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.

“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,” said Lim Wey-Len, EDB Executive Vice President.

“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.”