Chevron Invests in Lower-Carbon Pilot Projects in Australia
8/14/2023
(Reuters) — Chevron said on Thursday it would invest in two lower-carbon pilot projects in Western Australia.
The energy major would provide funding to Carbon Sync, which is leading a soil carbon sequestration pilot project as well as a research project with Deakin University to explore potential carbon dioxide sequestration opportunities in the region's coastal wetlands.
The financial details of the investments were not disclosed.
Chevron plans to invest $10 billion in lower-carbon projects through 2028, as the industry has made such initiatives central to its net-zero strategies.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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