ExxonMobil and Shell selected to work with the Government of Singapore on a carbon capture and storage value chain | Singapore EDB

ExxonMobil and Shell selected to work with the Government of Singapore on a carbon capture and storage value chain | Singapore EDB

//

ExxonMobil and Shell selected to work with the Government of Singapore on a carbon capture and storage value chain

01 Mar 2024•2 min read

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

The S-Hub consortium, comprising ExxonMobil Asia Pacific Pte. Ltd. and Shell Singapore Pte. Ltd., is proud to be selected to work with the Government of Singapore as lead developers for a cross-border carbon capture and storage (CCS) project.

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.

"We are pleased to be selected to lead this opportunity in collaboration with the EDB, Shell, regional governments and other industry partners. 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."

Irtiza Sayyed
President for Low Carbon Solutions, Asia Pacific
ExxonMobil

"As the lead CCS developers with ExxonMobil, we are proud to contribute to Singapore’s decarbonisation 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 in bringing together multiple partners and emitters to establish a complex cross border CCS network."

Bernhard Koudelka
Vice President, Carbon Capture and Storage (CCS)
Shell

"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. 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."

Lim Wey-Len
Executive Vice President
EDB

¹ Capturing 2.5 million tons is roughly equivalent to replacing approximately 1-million gasoline-powered cars with electric vehicles. (ExxonMobil’s analysis is based on assumptions for the U.S. in 2022, including average distance travelled, fuel efficiency, average power grid carbon intensity, electric vehicle charging efficiency, and other factors. Gasoline-powered cars include light-duty trucks and SUVs.)

Press Release

01 March 2024

Download (207.4 KB)

The latest business insights and news delivered to your inbox

A picture of 3 brochures advertising EDB