ExxonMobil Low Carbon Solutions and steel producer Nucor Corporation have signed a carbon capture and storage agreement, Exxon announced on June 1.
With this newest carbon capture agreement, Exxon expanded its total carbon dioxide transportation and storage capacity for third-party customers to 5 million metric tons annually (MTA). This amount is equivalent to the potential impact of replacing around 2 million gasoline-powered cars, or approximately all electric cars in the U.S.
Earlier this year, Exxon also partnered with multinational chemical company Linder and CF Industries, which manufactures agricultural fertilizer.
As part of the collaboration with Nucor, Exxon will capture, transport and store as much as 800,000 metric tons of carbon annually from the steelmaker’s manufacturing plant in Convent, Louisiana. Nucor Steel Lousiana produces direct reduced iron, a material used in the production of steel products such as cars, appliances, and heavy equipment.
“Our agreement with Nucor is the latest example of how we’re delivering on our mission to help accelerate the world’s path to net zero and build a compelling new business,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “Momentum is building as customers recognize our ability to solve emission challenges at scale.”
Relevant: Nucor And ExxonMobil Sign Carbon Capture And Storage Agreement
The project in partnership with Nucor is expected to start up in 2026. It will utilize the same carbon transportation and storage infrastructure as the one used in the CF Industries project. The collaboration aims to support Louisiana’s goal to reach net zero by 2050.
Exxon recently hosted the Low Carbon Solutions Spotlight event, which outlined the company’s involvement in supporting energy-intensive industries in their emissions reduction strategies.
Read more: Exxon Donates $2M To LSU For Carbon Capture Research
