Hydrogen is a lower-emission energy technology that has huge potential when it comes to hard-to-decarbonize sectors, like steel, cement, fuels and petrochemicals.
It can be produced from various energy sources, including natural gas with carbon capture and storage (often known as “blue” hydrogen) and renewables (often known as “green” hydrogen). Importantly, hydrogen can be manufactured with a lower carbon footprint than conventional fuels and does not emit any greenhouse gases at its point-of-use.
Not surprisingly, hydrogen is expected to play an important role in the energy transition. In fact, the International Energy Agency sees hydrogen and hydrogen-based fuels meeting 10% of global energy needs as part of its “Net Zero by 2050” scenario.
Find out more about hydrogen from Erik Oswald of ExxonMobil Low Carbon Solutions.
Investing in hydrogen
ExxonMobil is investing around $17 billion in initiatives to lower greenhouse gas emissions between 2022 and 2027, including scaling up hydrogen solutions.
“Hydrogen has the potential to address most of the hard-to-abate emission reduction areas that we need to take on,” says Erik.
In the US, we plan to build a blue-hydrogen production plant on our site in Baytown, Texas, in the United States, which is expected to be able to produce up to 1 billion cubic feet per day of hydrogen. It will also have the potential to capture and store around 10 million tonnes of CO2 every year.
In Asia Pacific, ExxonMobil has signed a Memorandum of Understanding (MoU) with Keppel Infrastructure to develop access to low-carbon hydrogen and ammonia for scalable commercial and industrial applications in Singapore.
ExxonMobil has also reached a Heads of Agreement with SK Inc. Materials to import blue ammonia produced from ExxonMobil’s planned blue-hydrogen plant in Baytown to South Korea in support of reducing industrial emissions.