ExxonMobil and Shell have partnered alongside the Singapore government to develop a carbon capture and storage (CCS) project. The project, which aims to reduce the country’s carbon dioxide emissions, will be led by the Singapore-based units of ExxonMobil and Shell, known as S-Hub.

In December 2023, S-Hub and the Singapore Economic Development Board (EDB) signed a memorandum of understanding (MoU) to coordinate the planning and development of the CCS project.

The project is expected to capture and permanently store at least 2.5 million tons of CO2 annually by 2030.

The CCS project will involve storing CO2 emissions deep underground or under the seabed. The sites for storage will be carefully selected after undergoing thorough analysis to ensure their suitability.

“We are pleased to be selected to lead this opportunity and to collaborate with the EDB, Shell, regional governments, and other industry partners,” said Irtiza Sayyed, President of ExxonMobil’s Low Carbon Solutions Asia Pacific. “Our extensive experience managing and building complex cross-border projects, coupled with our core capabilities in CCS, gives us the confidence to accelerate Singapore and the region’s path to net zero.”

Bernhard Koudelka, Vice President of Shell’s Global CCS, added, “As the lead CCS developers with ExxonMobil, we are proud to contribute to Singapore’s decarbonization plans. With our global track record and deep expertise in developing CCS hubs with over 10 million tons of carbon dioxide captured to date, we have the experience needed to bring together multiple partners and emitters to establish a complex cross-border CCS network,” said Vice President Bernhard Koudelka of Shell’s Global CCS.

For his part, the EDB’s Executive Vice President, Lim Wey-Len, said, “Carbon capture and storage has the potential to be a key decarbonization pathway for Singapore, especially for sectors with hard-to-abate emissions such as energy and chemicals, power, and waste. 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 decarbonization measures to realize our climate change targets.”