ExxonMobil to invest $400m to expand LaBarge CCS facility in Wyoming
ExxonMobil said that it will expand carbon capture and storage (CCS) at its LaBarge facility in Wyoming with an investment of $400 million and in this connection, has begun the process for engineering, procurement, and construction (EPC) contracts, as per an announcement made in late October.
According to the US energy giant, the expansion project is designed for capturing up to a million metric tons of CO2. This will be on top of the 6-7 million metric tons that is already been captured yearly at the LaBarge CCS facility.
Joe Blommaert — president of ExxonMobil Low Carbon Solutions said: “The expansion of our carbon capture and storage operations at LaBarge underscores our commitment to advancing CCS projects around the world.
“This technology is critical to help meet society’s lower-emissions goals, and with the right policies in place, is immediately deployable. ExxonMobil has long supported policies that provide a predictable price on carbon emissions, which enable new or expanded carbon capture and storage investments.”
ExxonMobil to invest $400m to expand LaBarge CCS facility in Wyoming. Photo courtesy of catazul from Pixabay.
The LaBarge expansion project is currently in the design and permitting phase. Depending on regulatory approvals and several other factors, a final investment decision on the CCS expansion projected is expected to be made next year.
ExxonMobil said that it is seeking bids for EPC contracts from third parties and expects to begin operations at the LaBarge expansion project as early as 2025.