All parties will conduct joint research to evaluate project technical solutions, build business models, create a complete low-carbon product supply china
November 4, 2022
SHANGHAI – Shell has signed a non-binding memorandum of understanding with Sinopec, China Baowu and BASF to explore the feasibility of building an open carbon capture, utilization and storage (CCUS) project in eastern China, with a view to contributing Various industrial enterprises along the downstream line provide carbon emission reduction solutions for carbon dioxide capture and storage.
All parties will conduct joint research to evaluate project technical solutions, build business models, create a complete low-carbon product supply chain, and clarify policy support needs. After the project is completed, it will become China's first large-scale open CCUS project, and its carbon dioxide sequestration scale can reach 10 million tons per year.
"Carbon capture and storage provides an effective way to reduce carbon emissions for industries that are difficult to reduce emissions. Therefore, Shell is actively seeking relevant business opportunities with partners," said Haibo, director of Shell's downstream business. “This project fits well with Shell’s carbon reduction strategy of providing bespoke decarbonization solutions for different industries and will contribute to our goal of having at least 25 million tons of carbon capture and storage capacity per year by 2035.”
After the completion of the project, the carbon dioxide emitted by industrial enterprises in East China can be captured and transported to the carbon dioxide receiving station by tanker, and then transported to onshore and offshore storage sites through short-distance pipelines. Industrial enterprises in the region will obtain flexible, efficient and integrated carbon dioxide emission reduction solutions.
