Shell and ExxonMobil have announced a joint venture (JV) for a significant carbon capture project in Singapore, to help the city-state’s decarbonization ambitions. The project, led by the S-Hub consortium which includes ExxonMobil Asia Pacific Pte Ltd and Shell Singapore Pte Ltd, is set to play a pivotal role in reducing carbon dioxide (CO2) emissions across heavy industrial sectors, including steel, petrochemicals, and cement.
In December 2023, the S-Hub consortium and the Singapore Economic Development Board (EDB) signed a memorandum of understanding to collaborate on the planning and development of this carbon capture and storage (CCS) initiative. The project aims to capture and permanently store at least 2.5 million tonnes of CO2 annually by 2030. However, the progression of this initiative will depend on the finalization of definitive agreements between the involved parties.
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CCS technology is recognized as one of the few proven and safe methods to significantly reduce CO2 emissions at scale today. The S-Hub project intends to capture CO2 emissions from Singapore and securely store them deep underground or beneath the seabed, with storage sites being carefully selected after thorough suitability analyses.
Irtiza Sayyed, ExxonMobil’s Low Carbon Solutions Asia Pacific President, said “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.”
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Shell’s Global CCS Vice President Bernhard Koudelka said: “With our global track record and deep expertise in developing CCS hubs with over 10 million tonnes 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.”
