ExxonMobil Low Carbon Solutions’ newest carbon capture and storage agreement – with Nucor Corporation, one of North America’s largest steel producers – demonstrates our continued momentum in helping industrial customers reduce emissions.
It will capture, transport and store up to 800,000 metric tons per year of CO2 from Nucor’s manufacturing site in Convent, Louisiana. The site produces direct reduced iron (DRI), a raw material used to make high-quality steel products including automobiles, appliances and heavy equipment.
It is the third carbon capture agreement announced in the past seven months, following previous ones with industrial gas company Linde and CF Industries, maker of agricultural fertilizer.
It also marks a milestone – bringing the total CO2 agreed to transport and store for third-party customers to 5 million metric tons per year (MTA). That is equivalent to replacing approximately 2 million gasoline-powered cars with electric vehicles*, which is roughly equal to the total number of EVs on US roads today.
The Nucor project, expected to start up in 2026, will tie into the same CO2 transportation and storage infrastructure as utilized by CF Industries project, and supports Louisiana’s objective of reaching net-zero CO2 emissions by 2050.
As outlined in the recent Low Carbon Solutions Spotlight event, ExxonMobil are focused on developing and deploying emissions solutions for the energy-intensive sectors of the economy, including industries like steel.
*ExxonMobil analysis based on assumptions for U.S. in 2022, including average distance traveled, fuel efficiency, average power grid carbon intensity, electric vehicle charging efficiency and other factors. Gas-powered cars include light-duty vehicles (cars, light trucks and SUVs).
Courtesy of ExxonMobil.