Houston-based Occidental Petroleum’s low carbon business is partnering with Canadian...
, Enbridge said Wednesday. The hub would serve proposed Enbridge facilities in the area and would be marketed to other nearby emitters.
"We look forward to working with Enbridge as we advance our plans to develop sequestration hubs that will provide a practical decarbonization solution for industrial emitters," said Jeff Alvarez, President and General Manager of Sequestration with Oxy Low Carbon Ventures."This collaboration will help accelerate the path to net zero not only for ourselves, but for other organizations who are exploring end-to-end solutions to capture, transport and permanently store CO2.
Carbon capture is nothing new: oil and gas companies have been capturing carbon to pump into oil fields to increase oil and gas production for decades. As the world becomes increasingly concerned about the worsening effects of climate change, energy companies say they can shift the process to grab carbon from major polluters, transport it to storage sites, and sequester it deep underground. Norwegian firm Rystad Energy expectson carbon capture, use and storage projects over the next few years.
But there’s still a big mismatch between the projects coming online and what scientists say is needed to keep global warming to 1.5 degrees Celsius above pre-industrial levels and avoid the most catastrophic impacts of climate change.
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