US supermajor ExxonMobil plans to spend about $400 million to expand the carbon capture capacity of its LaBarge facility in Wyoming and started the process for engineering, procurement and construction contracts for the project.
The expansion is aiming to capture up to 1 million metric tonnes of carbon dioxide, in addition to the 6 million to 7 million metric tonnes already being sequestered each year.
The expansion project is in the design and permitting phase and a request for bids for EPC contracts has been issued, ExxonMobil said.
A final investment decision is expected in 2022, pending regulatory approvals. Operations could start as early as 2025.
ExxonMobil claimed LaBarge already represents nearly 20% of all CO2 captured in the world each year.
“The expansion of our carbon capture and storage operations at LaBarge underscores our commitment to advancing CCS projects around the world,” Joe Blommaert, president of ExxonMobil Low Carbon Solutions, said.
“This technology is critical to help meet society’s lower-emissions goals, and with the right policies in place, is immediately deployable. ExxonMobil has long supported policies that provide a predictable price on carbon emissions, which enable new or expanded carbon capture and storage investments.”
ExxonMobil has said it plans to invest $3 billion on lowering emissions through 2025, by which time it plans to reduce the intensity of its oilfield greenhouse gas emissions by 15% to 20% from 2016 levels.
ExxonMobil Low Carbon Solutions is evaluating several other large-scale carbon capture and storage projects in the US Gulf Coast, Europe and Asia.