Chevron’s Carbon Capture Struggle Shows Big Oil’s Climate Hurdle
- World’s biggest CCS project has missed regulatory benchmark
- Energy industry staking net-zero future on the technology
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The world’s biggest project to capture and store carbon dioxide isn’t working like it should, highlighting the challenges oil companies face in tackling their greenhouse gas emissions.
Chevron Corp.’s system at the $54 billion Gorgon liquefied natural gas export plant in Australia missed a local government target to inject captured carbon dioxide underground, the San Ramon, California-based company said Monday. That’s a setback for energy companies globally that have staked their net-zero futures on the technology, which has shown limited success to date.