Exxon Mobil signs its sixth carbon capture agreement with Calpine

(Alliance News) - Exxon Mobil Corp on Wednesday announced its latest carbon capture and storage agreement, teaming up with Calpine Corp to permanently store CO2 emissions from a power facility in Texas.

Exxon, a Houston, Texas-based oil and gas company, has partnered with the Houston-based power generation facility operator to transport and permanently store up to 2 million metric tons per annum of CO2 from Calpine's Baytown Energy Center.

The agreement forms part of Calpine's Baytown CCS project that is designed to capture CO2 emissions from the facility.

This latest agreement marks Exxon's sixth CCS customer, bringing the company's total amount of CO2 under contract to 16 Mta.

Pursuant to the deal, CO2 from the facility will be channelled into Exxon's CO2 pipeline system along the US Gulf Coast, which is the largest in the world.

The CO2 will support enhanced oil recovery alongside permanent sequestration.

President of Low Carbon Solutions Barry Engle said: "This agreement underscores the growing confidence our customers across diverse sectors including steel, fertiliser, industrial gases, natural gas processing, and now power generation—have in our unique end-to-end CCS system."

Exxon Mobil shares closed 0.9% lower at USD107.37 each before rising 0.1% after hours.

By Elijah Dale, Alliance News reporter

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