ExxonMobil and Shell selected to work with the Government of Singapore on a carbon capture and storage value chain

• ExxonMobil and Shell have formed an S-Hub consortium to evaluate and develop a cross-border carbon capture and storage (CCS) project for reducing carbon dioxide (CO2) emissions in Singapore
  
• CCS is expected to play a critical role in supporting large-scale emissions reduction, particularly from hard-to-decarbonize industries 

The S-Hub consortium, comprising ExxonMobil Asia Pacific Pte. Ltd. and Shell Singapore Pte. Ltd., is proud to be selected to work with the Government of Singapore as lead developers for a cross-border carbon capture and storage (CCS) project.

S-Hub and the Singapore Economic Development Board (EDB) signed a Memorandum of Understanding in December 2023 to coordinate the planning and development of a CCS project, capable of capturing and permanently storing at least 2.5 million tons of CO2¹ a year, by 2030. Commitment to proceed will be subject to definitive agreements between the parties.

CCS is one of the few proven and safe solutions to reduce CO2 emissions at scale today from heavy industrial sectors such as steel, petrochemicals and cement.

The S-Hub project plans to capture and securely store CO2 emissions from Singapore deep underground or under the seabed. Storage sites will be selected after undergoing rigorous analysis to ensure their suitability.

¹ Capturing 2.5 million tons is roughly equivalent to replacing approximately 1-million gasoline-powered cars with electric vehicles. (ExxonMobil’s analysis is based on assumptions for the U.S. in 2022, including average distance travelled, fuel efficiency, average power grid carbon intensity, electric vehicle charging efficiency, and other factors. Gasoline-powered cars include light-duty trucks and SUVs.)