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

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 tonnes of carbon dioxide (CO₂) 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.

ExxonMobil’s Low Carbon Solutions Asia Pacific President, Irtiza Sayyed said, “We are pleased to be selected to lead this opportunity and to collaborate with the EDB, Shell, regional governments and other industry partners. Our extensive experience managing and building complex cross-border projects, coupled with our core capabilities in CCS, gives us the confidence to accelerate Singapore and the region’s path to net zero.”

Shell’s Global CCS Vice President Bernhard Koudelka, said, “As the lead CCS developers with ExxonMobil, we are proud to contribute to Singapore’s decarbonisation plans. With our global track record and deep expertise in developing CCS hubs with over 10 million tonnes of carbon dioxide captured to date, we have the experience needed in bringing together multiple partners and emitters to establish a complex cross border CCS network.”

The EDB’s Executive Vice President Lim Wey-Len said, “Carbon capture and storage has the potential to be a key decarbonisation pathway for Singapore, especially for sectors with hard-to-abate emissions such as energy and chemicals, power, and waste. We are pleased to appoint S-Hub to study and develop a CCS project with partners in the region. This is part of the government’s ongoing efforts to build a portfolio of decarbonisation measures to realise our climate change targets.”

Enquiries :

Media Asia Pacific : apac-media@shell.com

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Shell’s net carbon intensity

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Shell’s net-Zero Emissions Target

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Shell expects to publish its 2024 Energy Transition Strategy on March 14, 2024, which will include an update on Shell’s energy transition strategy and set out Shell’s climate targets and ambitions for the future.

Forward Looking Non-GAAP measures

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