ExxonMobil Pinpoints Houston Ship Channel for Massive Carbon Capture and Storage Hub

SUGAR LAND--May 3, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--There's no bones about it: The Houston, Texas, area is the ideal place for a massive buildout of carbon capture and storage (CCS) assets, Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) Chief Executive Officer Darren Woods said last week. Woods said, "Houston is an ideal location for a major project. The plants along the heavily industrialized Ship Channel represent some of the hardest sectors to decarbonize. They're also relatively close together, providing project scale and reducing unit costs." Woods noted that the area's proximity to the Gulf of Mexico provided direct access to suitable storage locations, citing the U.S. Department of Energy, which says that the geology beneath the seafloor has the capacity to store 500 billion tons of CO2, 100 years' worth of current U.S. CO2 emissions.