01-06-2023

ExxonMobil signs carbon capture agreement with Nucor Corporation, reaching 5 MTA milestone

ExxonMobil Low Carbon Solutions’ newest carbon capture and storage agreement – with Nucor Corporation, one of North America’s largest steel producers – demonstrates our continued momentum in helping industrial customers reduce emissions.

We will capture, transport and store up to 800,000 metric tons per year of CO2 from Nucor’s manufacturing site in Convent, Louisiana. The site produces direct reduced iron (DRI), a raw material used to make high-quality steel products including automobiles, appliances and heavy equipment.  

It’s the third carbon capture agreement we’ve announced in the past seven months, following previous ones with industrial gas company Linde and CF Industries, maker of agricultural fertiliser.  

It also marks a milestone – bringing the total CO2 we’ve agreed to transport and store for third-party customers to 5 million metric tons per year (MTA). That’s equivalent to replacing approximately 2 million gasoline-powered cars with electric vehicles*, which is roughly equal to the total number of EVs on US roads today.  

“Our agreement with Nucor is the latest example of how we’re delivering on our mission to help accelerate the world's path to net zero and build a compelling new business,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “Momentum is building as customers recognise our ability to solve emission challenges at scale.”

The Nucor project, expected to start up in 2026, will tie into the same CO2 transportation and storage infrastructure as utilised by our CF Industries project, and supports Louisiana’s objective of reaching net-zero CO2 emissions by 2050.

As outlined in our recent Low Carbon Solutions Spotlight event, we are focused on developing and deploying emissions solutions for the energy-intensive sectors of the economy, including industries like steel.