ExxonMobil, Nucor Ink Big Carbon Capture Deal

ExxonMobil, Nucor Ink Big Carbon Capture Deal

Share to Linkedin Rolls of steel are stored outside the rolling facility and await shipment at the NUCOR Steel ... [+] Gallatin plant, Wednesday, July 25, 2018, in Ghent, Ky. The plant is in operation 24 hours a day, seven days a week to meet demand. (AP Photo/Timothy D. Easley) ExxonMobil XOM , the largest U. S. domestic oil and gas company, and big steel-maker Nucor NUE announced an agreement Thursday in which Exxon will capture carbon emissions from Nucor's direct reduced iron (DRI) plant in Convent, Louisiana and permanently store it in underground reservoirs. For ExxonMobil, the deal is its third major carbon capture and storage (CCS) project announced in the last seven months as it advances its strategy for growing a portfolio of such projects along the Texas and Louisiana Gulf Coast. "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," Dan Ammann, president of ExxonMobil Low Carbon Solutions (LCS), said in the company's release. "Momentum is building as customers recognize our ability to solve emission challenges at scale." Combined with Exxon's previously-announced CCS agreements with CF