The company is planning a hydrogen production plant and one of the world’s largest CCS projects at its integrated refining and petrochemical site at Baytown, Texas, supporting efforts to reduce emissions from company operations and local industry.

“Hydrogen has the potential to significantly reduce CO₂ emissions in vital sectors of the economy and create valuable, lower-emissions products that support modern life,” said Joe Blommaert, president of ExxonMobil Low Carbon Solutions. “By helping to activate new markets for hydrogen and carbon capture and storage, this project can play an important part in achieving America’s lower-emissions aspirations.”

The proposed hydrogen facility would produce up to 1 Bft³/d of blue hydrogen. The carbon capture infrastructure for this project would have the capacity to transport and store up to 10 MM metric tpy of CO₂, more than doubling ExxonMobil’s current capacity.

Using hydrogen as a fuel at the Baytown olefins plant could reduce the integrated complex’s Scope 1 and 2 CO₂ emissions by up to 30%, supporting ExxonMobil’s ambition to achieve net zero greenhouse gas emissions from its operated assets by 2050. It also would enable the site to manufacture lower-emissions products for its customers. Access to surplus hydrogen and CO₂ storage capacity would be made available to nearby industry.

The project would form ExxonMobil’s initial contribution to a broad, cross-industry effort to establish a Houston carbon capture and storage hub with an initial target of about 50 MM metric tpy of CO₂ by 2030, and 100 MM metric t by 2040. Evaluation and planning for the Baytown project are ongoing and, subject to stakeholder support, regulatory permitting and market conditions, a final investment decision is expected in two to three years.

ExxonMobil Low Carbon Solutions business was established to commercialize low-emission technologies and is focusing on carbon capture and storage, hydrogen and biofuels – technologies where the company can leverage its core competencies and competitive advantages. Over the next six years, the company plans to invest more than $15 B on lower-emission initiatives and could increase investments with advancements in policy and technology.

Sound government policies will accelerate the deployment of key technologies at the pace and scale required to support a societal net-zero future. Predictable, stable, cost-effective policies are necessary to incentivize the development and scalability of a wide range of low-emission technologies, including hydrogen and CCS. ExxonMobil continues to support an explicit price on carbon to establish consistent incentives and encourage investments.