Germany sees meat exports to EU continuing after foot-and-mouth case
Parliament speaker to lead Taiwan delegation to Trump's inauguration
German economy contracted 0.2% in 2024
Middle East latest: Palestinian prime minister says Palestinian Authority should run Gaza in future
Nokia signs multi-year patent license agreement with Samsung
Irish parties secure 'comfortable majority' for new government
Bayern Munich signs US youngster Bajung Darboe from LAFC
Novak Djokovic breaks a tie with Roger Federer for the most Grand Slam matches in tennis history
China's RedNote: what you need to know about the app TikTok users are flocking to
(Reuters) - Global energy majors Exxon Mobil and Shell will work with Singapore to develop a cross-border carbon capture and storage (CCS) project, both companies said on Friday.
The Singapore-based units of the two companies, ExxonMobil Asia Pacific Pte. Ltd. and Shell Singapore Pte. Ltd., have formed the S-Hub consortium to work with the Singapore government as lead developers for the CCS project to reduce the country's carbon dioxide (CO2) emissions.
"S-Hub and the Singapore Economic Development Board (EDB) signed a memorandum of understanding in December 2023 to coordinate the planning and development of a CCS project, capable of capturing and permanently storing at least 2.5 million tons of CO2 a year, by 2030," they said in a joint statement.
The project will store CO2 emissions from Singapore deep underground or under the seabed. The storage sites will be selected after undergoing analysis to ensure suitability, it added.
(Reporting by Emily Chow; Editing by Angus MacSwan)
