Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips 66 and Valero have shown interest in supporting the large-scale deployment of carbon capture and storage, or CCS, technology in Houston, according to the release.
“Houston can achieve our net-zero goals by working together, and it’s exciting to see so many companies have already come together to talk about making Houston the world leader in carbon capture and storage,” Houston Mayor Sylvester Turner said in the release. “We’re reimagining what it means to be the energy capital of the world, and applying proven technology to reduce emissions is one of the best ways to get started.”
The city of Houston in April 2020 launched the Houston Climate Action Plan to reduce greenhouse gas emissions and achieve carbon neutrality by 2050.
The CCS process involves capturing carbon dioxide from industrial activity that would be released into the atmosphere and sending it underground for permanent storage, according to the news release.
The carbon dioxide captured from the facilities of these 11 companies in the Houston area could be stored in the Gulf Coast region in formations thousands of feet below the surface or seabed, which could hold 500 billion metric tons of carbon dioxide, according to the release.
The 11 companies are considering using CCS technology at facilities that generate electricity and manufacture plastics, motor fuels, packaging and other products. There are ongoing discussions with other industrial companies in the Houston area that could announce their support at a later date, according to the release.
CCS could generate tens of thousands of new jobs, protect current jobs and reduce emissions, the release stated.
“Carbon capture and storage has a critical role to play in advancing a lower carbon future,” Chevron New Energies President Jeff Gustavson said. “Success will require collaboration across energy partners, government and other industries.”