ExxonMobil has started storing carbon dioxide at its third commercial CCS site, the Nucor iron facility in Convent, Louisiana. The project can capture, transport, and store up to 800,000 tonnes of CO2 per year. Combined with its CF Industries and NG3 projects, ExxonMobil now has three active CCS operations in Louisiana with a combined annual capacity of around 4 million tonnes. The company links this expansion to its latest Global Outlook, which forecasts a roughly 70-fold increase in carbon storage by 2050. However, the report also projects oil and gas will still supply over half of global energy in 2050, and predicts CO2 emissions will be 30 billion tonnes annually, 10% higher than last year's projection. This tension between CCS growth and continued fossil fuel reliance is central to the debate over how fast real decarbonization can happen.
