SPRING, Texas — Did you know that the ExxonMobil Corporation made history in October 2024 by securing the largest CO2 offshore storage site in the United States with the Texas General Land Office (GLO)?
According to a news release from the company, the over 271,000-acre site complements the onshore CO2 storage portfolio ExxonMobil is developing and further solidifies the U.S. Gulf Coast as a carbon capture and storage (CCS) leader.
“This is yet another sign of our commitment to CCS and the strides we’ve been able to make,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “With our growing roster of customers ready to deploy CCS, we’ll be driving substantial emissions reductions along the Gulf Coast through a comprehensive solution that includes capture, transportation, and storage—capabilities that make us a clear leader.”
The terms of the agreement will reportedly benefit the Texas Permanent School Fund directly.
“This will enhance education for Texas children, while also reducing emissions and promoting community development in nearby areas,” the release stated.
“As the steward of 13 million acres of energy-rich state land, I am proud to partner with ExxonMobil in utilizing state land for innovative solutions that can help ensure future energy production. Energy independence is vital to ensuring our state and country remain economic leaders around the globe,” said Commissioner Buckingham. “As a mom, I have long said that educating our children is the most important thing we do, and I am thrilled that the revenue from this lease will go toward benefiting our great state along with our Texas school children.”
ExxonMobil operates the largest CO2 pipeline network in the U.S. Company officials say it is “well-positioned” to leverage its extensive infrastructure and storage space to deliver an end-to-end solution.
Source: ExxonMobil
