Nucor Enters Louisiana Carbon Capture, Storage Pact With ExxonMobil
01 June 2023 - 11:08PM
Dow Jones News
By Colin Kellaher
Nucor on Thursday said it struck a deal with energy giant
ExxonMobil to capture, transport and store carbon from the
steelmaker's direct-reduced-iron plant in Convent, La.
Charlotte, N.C.-based Nucor said ExxonMobil would capture up to
800,000 metric tons of carbon dioxide a year from the plant and
store it at a facility in Louisiana.
Nucor said the project, slated to begin in 2026, is a key part
of its decarbonization strategy. The company in 2021 said it was
targeting a 35% reduction in its greenhouse gas emissions intensity
from a 2015 baseline by 2030.
According to ExxonMobil's website, carbon capture and storage is
the process of taking CO2 that would otherwise be released into the
atmosphere from industrial activity and injecting it into deep
geologic formations for secure and permanent storage.
The Irving, Texas, company said the technology is aimed at
reducing emissions at scale from high-heat and high-power
industrial and manufacturing sectors where there are no other
near-term solutions to mitigate CO2 emissions.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 01, 2023 08:52 ET (12:52 GMT)
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