Nucor, ExxonMobil Sign Carbon Capture Agreement
According to Nucor, ExxonMobil will annually capture up to 800,000 metric tons of CO2 from the plant, and then transport and store it in a facility in Louisiana.
“This transformative (carbon capture and storage) project with ExxonMobil is a key part of our decarbonization strategy and will result in some of the lowest embodied carbon DRI or HBI in North America,” said Nucor chair and chief executive Leon Topalian.
“We are taking a multi-faceted approach to decarbonization, and this partnership builds on previous investments we have made in a carbon-free iron start-up, renewable energy generation, and the development of small modular nuclear reactor technology.”
The project is expected to start in 2026.
“This collaboration with Nucor is the latest example of how we're delivering on our mission to help accelerate the world's path to net zero,” said Dan Ammann, president of ExxonMobil Low Carbon, ExxonMobil. “Momentum is building as customers recognize our ability to solve emission challenges at scale.”
This is the third carbon capture agreement ExxonMobil has signed in the past seven months. The previous two are with industrial gas supplier Linde and fertilizer maker CF Industries. As part of the CF Industries project, ExxonMobil signed an agreement with a pipeline with transport to gas to underground storage in Vermilion Parish.
ExxonMobil said the Nucor project will tie into the same CO2 transportation and storage infrastructure utilized by the CF Industries project.