MOSCOW (MRC) -- ExxonMobil announced its ambition to achieve net zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets, said the company.
Scope 1 refers to emissions produced during production, Scope 2 to emissions from the consumption of energy. The 2050 net zero ambition, which is contained in the company’s Advancing Climate Solutions - 2022 Progress Report, builds on its ongoing emission reduction plans.
Those plans include net-zero emission for Permian basin operations and ongoing investments in lower-emission solutions in which ExxonMobil has extensive experience, including carbon capture and storage, hydrogen and biofuels.
ExxonMobil’s emissions reduction actions already underway prioritise energy efficiency measures, methane mitigation, equipment upgrades and the elimination of venting and routine flaring. Further high-impact reduction opportunities include power and steam co-generation and electrification of operations, using renewable or lower-emission power.
The company expects to finalise detailed roadmaps that address about 90% of operations-related greenhouse gas emissions by the end of this year, and the remainder will be completed in 2023, it said. The cost of the initial actions to achieve net zero by 2050 are included in the company’s plans to invest more than USD15bn by 2027 on lower-emission initiatives.
As per MRC, ExxonMobil affiliate Esso Petroleum Company Limited, SGN and Macquarie’s Green Investment Group (GIG) signed a Memorandum of Understanding (MoU) to explore the use of hydrogen and carbon capture for a hydrogen hub project in the Southampton industrial cluster.
As MRC informed previously, ExxonMobil and SABIC have announced that their joint venture, Gulf Coast Growth Ventures located near Corpus Christi, Texas, has reached mechanical completion of a monoethylene glycol (MEG) unit and two polyethylene (PE) units. Project startup is expected to begin ahead of schedule, likely in the fourth quarter of 2021.
ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
MRC