ExxonMobil and Shell Forge Consortium for Carbon Capture Project in Singapore

ExxonMobil and Shell have forged a formidable alliance to establish a consortium geared towards spearheading the development of a groundbreaking cross-border carbon capture and storage (CCS) endeavor in Singapore. This collaborative initiative, christened the S-Hub consortium, stands poised to work in close collaboration with the Singapore Government, with the overarching objective of making significant strides in reducing CO2 emissions.

In a significant stride forward, ExxonMobil Asia Pacific and Shell Singapore have solidified their commitment to this endeavor by formalizing a memorandum of understanding with the Singapore Economic Development Board (EDB). This pivotal memorandum serves as the bedrock for planning and orchestrating the development of the CCS project. The proposed initiative harbors ambitious aspirations, aiming to capture and permanently sequester a minimum of 2.5 million tonnes of CO2 annually by the target year of 2030.

In expressing their eagerness and commitment to this monumental undertaking, ExxonMobil underscores the honor they feel in being selected to lead this groundbreaking initiative. They are joined in this venture by a consortium comprising Shell, the EDB, regional governmental bodies, and various esteemed industry partners. The overarching goal of this concerted effort is to capture CO2 emissions originating from Singapore's industrial sectors and securely deposit them deep underground or beneath the seabed.

The process of selecting suitable storage sites will be meticulously executed, subject to rigorous analysis to verify their feasibility and ensure that stringent safety protocols are upheld. Carbon capture and storage represent a transformative decarbonization pathway for Singapore, particularly within sectors marked by hard-to-abate emissions, including energy, chemicals, power generation, and waste management. This underscores the strategic significance and transformative potential encapsulated within the proposed CCS project in Singapore.

The collaboration between ExxonMobil, Shell, and various stakeholders underscores a shared commitment to environmental sustainability and innovation. By leveraging their collective expertise and resources, these industry leaders are poised to catalyze significant advancements in combating climate change and fostering a more sustainable future for Singapore and beyond. The establishment of the S-Hub consortium marks a pivotal moment in the global pursuit of carbon neutrality, setting a powerful precedent for collaborative action and innovation in addressing pressing environmental challenges.

The Economic Development Board is delighted to announce the appointment of S-Hub to conduct a comprehensive study and facilitate the development of a Carbon Capture and Storage (CCS) project in collaboration with regional partners. This initiative forms a crucial component of the government's continuous endeavors to establish a diverse array of decarbonization strategies, thereby advancing our objectives in combating climate change.