In order to determine whether it is feasible to build an open source carbon capture, utilisation, and storage (CCUS) project in the East China region, Sinopec, Baowu, and BASF have signed a memorandum of understanding (MoU) with Shell.
According to Shell, an open source project might give industrial firms in the middle and lower portions of the Yangtze River contractual chances to capture and store their CO2 emissions.
If this idea is effective, CO2 emissions from industrial businesses in the East China region may be captured. These emissions may then be delivered to a receiving terminal via CO2 carrier ships, where they would subsequently be transported via brief pipelines to onshore and offshore storage facilities. According to Shell, this might present a flexible, effective, and integrated decarbonization option for businesses in the area.
With an estimated 2,400 gigatonnes (Gt) of storage capacity, China has significant geological potential for storing carbon, second only to the USA. At the moment, it has more than 40 CCUS prototype projects with a 3 million tonne capacity. Many of these initiatives are modest constructions related to better oil recovery. Over the next forty years, this will need to be scaled up considerably.
The primary businesses of Shell have all seen significant growth in China. To explore onshore and offshore oil and gas resources in China and abroad, Shell collaborates with PetroChina and CNOOC. Included in this is the PetroChina-developed Changbei onshore gas project. One of the main providers of LNG in China is Shell.
With more than 3,000 electric vehicle charging stations, Shell runs a retail network of over 1,900 gas stations in China through joint ventures and completely owned businesses. In China, Shell has five lubricant blending facilities and one grease manufacturing facility. In a joint venture with CNOOC, it also runs a top-notch petrochemical facility in the Daya Bay neighbourhood in Huizhou City, Guangdong Province.
A significant component of Shell’s worldwide trading network, Shell Energy (China) Co., Ltd. offers Chinese customers a competitive and diverse LNG portfolio, power trading, and carbon asset management and trading solutions. Through investments in game-changing technology and business models from outside the corporation, Shell Ventures has a dedicated team working in China to speed up innovation in the energy and mobility sectors.