ExxonMobil has been granted a concession for a major carbon capture project in the United States. According to the permit, issued by the Texas General Land Office, the company will be able to pump carbon dioxide beneath Gulf of Mexico waters.
ExxonMobil will be allowed to carry out works over an area of 270,000 acres, which makes the project one of the largest of its kind in the US. The company expects to capture 6.7 million tonnes of CO2 per year through the initiative.
The amount is likely to increase to 7.5 million tonnes of CO2 per year once the development of Exxon's hydrogen project in its Baytown refinery moves ahead.
For more information on carbon capture projects, please visit EICDataStream.