Save for later Print Download Share LinkedIn Twitter Shell and Sinopec, together with Chinese steel giant Baowu and German chemicals firm BASF, have entered a non-binding memorandum to explore the feasibility of developing an “open-source” carbon capture, utilization and storage (CCUS) project in the East China region. Under the agreement, the four parties would jointly study technical solutions and develop a commercial model for a project with capacity of up to “tens of million tons of CO2 per year,” said Shell last week. It added the project is in line with Shell's ambition to have access to at least 25 million ton/yr of carbon capture and storage capacity by 2035. Sinopec launched China’s first million-ton-scale CCUS project in early 2022 to capture CO2 from its Qilu petrochemical complex for use in enhanced oil recovery at its Shengli oil field.
