Chevron has been working on several carbon capture projects with the aim of reducing the carbon intensity in San Joaquin, California, and in the Gulf of Mexico off Texas. The company has launched a carbon capture project in California, and they have a joint venture for a hub in Texas.
According to the Environmental Leader, Chevron wants to lower the amount of carbon dioxide emitted per unit of energy. To achieve this, they’ve bought a 50% stake in the carbon capture and sequestration hub in Bayou Bend.
“The Bayou Bend project has the potential to sequester 225 million to 275 million metric tons of carbon dioxide, according to the joint venture, and is the first offshore lease in the United States dedicated to carbon sequestration. Talos and Carbonvert will each have a 25% stake in the venture.”
Chevron’s plans for California include installing carbon dioxide post-combustion equipment that can catch the carbon and then store it deep underground. Carbon capture can catch around 90% of emissions from industrial facilities, and this is the focus of multiple projects that want to achieve net-zero emissions.
These efforts are in accordance with Chevron’s last year’s pledge to lower its carbon emissions by 5% and invest $8 billion in low-carbon efforts by 2028. They also want to be net-zero by 2050.
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