big deal

ExxonMobil signs biggest offshore CCS lease in the U.S.

The offshore site is adjacent to a CO2 pipeline network that ExxonMobil acquired in 2023 with its $4.9 billion purchase of Plano-based Denbury Resources. Photo via ExxonMobil.com

Spring-based ExxonMobil continues to ramp up its carbon capture and storage business with a new offshore lease and a new CCS customer.

On October 10, ExxonMobil announced it had signed the biggest offshore carbon dioxide storage lease in the U.S. ExxonMobil says the more than 271,000-acre site, being leased from the Texas General Land Office, complements the onshore CO2 storage portfolio that it’s assembling.

“This is yet another sign of our commitment to CCS and the strides we’ve been able to make,” Dan Ammann, president of ExxonMobil Low Carbon Solutions, says in a news release.

The offshore site is adjacent to a CO2 pipeline network that ExxonMobil acquired in 2023 with its $4.9 billion purchase of Plano-based Denbury Resources.

Ammann told Forbes that when it comes to available acreage in the Gulf Coast, this site is “the largest and most attractive from a geological point of view.”

The initial customer for the newly purchased site will be Northbrook, Illinois-based CF Industries, Forbes reported.

This summer, ExxonMobil sealed a deal to remove up to 500,000 metric tons of CO2 each year from CF’s nitrogen plant in Yazoo City, Mississippi. CF has earmarked about $100 million to build a CO2 dehydration and compression unit at the plant.

A couple of days before the lease announcement, Ammann said in a LinkedIn post that ExxonMobil had agreed to transport and annually store up to 1.2 metric tons of CO2 from the $1.6 billion New Generation Gas Gathering (NG3) pipeline project in Louisiana. Houston-based Momentum Midstream is developing NG3, which will collect and treat natural gas produced in Texas and Louisiana and deliver it to Gulf Coast markets.

This is ExxonMobil’s first CCS deal with a natural gas processor and fifth CCS deal agreement overall. To date, ExxonMobil has contracts in place for storage of up to 6.7 metric tons of CO2 per year.

“I’m proud that even more industries are choosing our #CCS solutions to meet their emissions reduction goals,” Ammann wrote on LinkedIn.

ExxonMobil says it operates the largest CO2 pipeline network in the U.S.

“The most fundamental thing we’re focused on is making sure the CO2 is stored safely and securely,” Ammann told Forbes in addressing fears that captured CO2 could seep back into the atmosphere.

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A View From HETI

A team at the University of Houston is changing the game for sodium-ion batteries. Photo via Getty Images

A research lab at the University of Houston has developed a new type of material for sodium-ion batteries that could make them more efficient and boost their energy performance.

Led by Pieremanuele Canepa, Robert Welch assistant professor of electrical and computer engineering at UH, the Canepa Research Laboratory is working on a new material called sodium vanadium phosphate, which improves sodium-ion battery performance by increasing the energy density. Energy density is the amount of energy stored per kilogram, and the new material can do so by more than 15 percent. With a higher energy density of 458 watt-hours per kilogram — compared to the 396 watt-hours per kilogram in older sodium-ion batteries — this material brings sodium technology closer to competing with lithium-ion batteries, according to the researchers.

The Canepa Lab used theoretical expertise and computational methods to discover new materials and molecules to help advance clean energy technologies. The team at UH worked with the research groups headed by French researchers Christian Masquelier and Laurence Croguennec from the Laboratoire de Reáctivité et de Chimie des Solides, which is a CNRS laboratory part of the Université de Picardie Jules Verne, in Amiens France, and the Institut de Chimie de la Matière Condensée de Bordeaux, Université de Bordeaux, Bordeaux, France for the experimental work on the project.

The researchers then created a battery prototype using the new materia sodium vanadium phosphate, which demonstrated energy storage improvements. The material is part of a group called “Na superionic conductors” or NaSICONs, which is made to let sodium ions move in and out of the battery during charging and discharging.

“The continuous voltage change is a key feature,” Canepa says in a news release. “It means the battery can perform more efficiently without compromising the electrode stability. That’s a game-changer for sodium-ion technology.”

The synthesis method used to create sodium vanadium phosphate may be applied to other materials with similar chemistries, which could create new opportunities for advanced energy storage. A paper of this work was published in the journal Nature Materials.

"Our goal is to find clean, sustainable solutions for energy storage," Canepa adds. "This material shows that sodium-ion batteries can meet the high-energy demands of modern technology while being cost-effective and environmentally friendly."

Pieremanuele Canepa, Robert Welch assistant professor of electrical and computer engineering at UH, is leading a research project that can change the effectiveness of sodium-ion batteries. Photo courtesy of UH

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