ExxonMobil, Shell Sign Agreement to Develop Singapore CCS Project

MANILA--March 25, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) and Shell plc (NYSE:SHEL) (London, England) have signed a memorandum of understanding with the Singapore Economic Development Board to develop a carbon capture and storage (CCS) facility in Singapore. The project aims to capture and store 2.5 million metric tons per year of carbon dioxide by 2030, either underground or under the seabed.