Exxon joins Scotland's Acorn 6 million mt/year carbon capture project

Quantum Commodity Intelligence - Energy major ExxonMobil will join the Scottish 'Acorn' carbon capture and storage (CCS) project, which aims to store 5 million to 6 million mt of carbon emissions each year from North Sea gas terminals, the company announced Friday.

The project, located at the St Fergus complex in Peterhead in the northwest of the country, includes Exxon's joint venture gas terminal and has the potential to store more than 20 million mt of emissions each year by the mid-2030s, according to a company statement.

The UK has set a target to capture 10 million mt of emissions per year by 2030 and has pledged up to £1 billion ($1.4 billion) of investment to support the development of CCS in four industrial clusters in the northeast and northwest of England, Scotland and Wales.

"ExxonMobil has more than 30 years' experience in CCS technology and is advancing plans for multiple new CCS opportunities around the world," said Joe Blommaert, president of Low Carbon Solutions at ExxonMobil.

"We are pleased to support the Acorn Project in the deployment of CCS, one of the most important technologies required to achieve society's climate goals."

In March, ExxonMobil established a Low Carbon Solutions business to commercialize low-emission technologies, initially focused on CCS.