Big oil companies mull CCS for Houston area
Eleven companies, from US-based Chevron to the UK’s INEOS, announced September 16 they were interested in developing carbon sequestration in the Houston area.
Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips 66 and Valero issued a joint statement about a shared agreement to examine the potential to develop carbon capture and storage (CCS) technology that could sequester as much as 50mn metric tons/year of CO2 by 2030.
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“Houston can achieve our net zero goals by working together, and it’s exciting to see so many companies have already come together to talk about making Houston the world leader in carbon capture and storage,” Houston mayor Sylvester Turner said.
Chevron already this week established a framework agreement with midstream company Enterprise Product Partners to evaluate opportunities in carbon sequestration at their Gulf Coast and US Midcontinent operations.
The companies involved in the Houston consideration said they had reached out to other companies with a heavy industrial footprint in the area to do even more collaborative work on carbon sequestration.
Turner added the collective agreement from some of the world’s leading oil and gas companies shows Houston is evolving along with the energy sector in general.
“We’re reimagining what it means to be the energy capital of the world, and applying proven technology to reduce emissions is one of the best ways to get started,” he said.