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Carbon capture Trading
Stuart Penson
2 June 2023
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ExxonMobil signs CCS deal with steelmaker Nucor

Oil major sees CCS for third parties as a ‘compelling’ business as latest contract takes total portfolio to 5mn t/yr

ExxonMobil has signed a CCS deal with Nucor, one of North America’s largest steelmakers, in the latest sign that it sees carbon management for third-party emitters as a potentially lucrative business. The US oil major has agreed to capture, transport and store up to 800,000t/yr of CO₂ from Nucor’s direct reduced iron plant in Convent, Louisiana. The project is expected to start up in 2026. The deal takes ExxonMobil’s total CCS agreements with third parties to 5mn t/yr and marks its first contract with a hard-to-abate emitter. 800,000t/yr – Capacity of Nucor project “Our agreement with Nucor is the latest example of how we are delivering on our mission to help accelerate the world's p

Also in this section
Carbon capture tops agenda at GPAE Conference 2025
18 June 2025
Gas Processors Association Europe brings together leading specialists at annual event in Netherlands to analyse the challenges and opportunities presented by technology at heart of Europe’s decarbonisation strategy
Letter on carbon: Capturing the value of CCUS
10 June 2025
Eni’s CCUS deal with BlackRock’s Global Infrastructure Partners reflects a growing belief among big investors in the CCUS growth story
CCS becoming part of Africa’s development path, part 2
3 June 2025
Africa faces challenges in adopting CCS but also has vast potential, with the technology being not just a climate tool but a catalyst for development
CCS becoming part of Africa’s development path, part 1
2 June 2025
Rather than a simple climate option, CCS is now being seen as a workable solution for Africa’s growth strategy

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