- Exxon Mobil and Shell partnered with Singapore for a CCS Project to cut CO2 emissions.
- S-Hub consortium, along with the Singaporean government, leads the pioneering project.
Exxon Mobil and Shell partnered with Singapore for a carbon capture and storage (CCS) project to curb CO2 emissions in the region. ExxonMobil Asia Pacific Pte. Ltd. and Shell Singapore Pte. Ltd. form the S-Hub consortium.
Along with the Singaporean government, this consortium aims to pioneer the CCS project. In December 2023, S-Hub and the Singapore Economic Development Board (EDB) sealed a memorandum of understanding to plan and execute a CCS endeavour targeting a minimum of 2.5 million tons of CO2 annually by 2030.
The project involves storing captured CO2 emissions underground or beneath the seabed, with rigorous analyses preceding site selection to ensure suitability and effectiveness in containing emissions. This collaboration signifies a significant step in the global fight against climate change as industry leaders and governmental bodies join forces for sustainable solutions.