Big Oil Making Low Carbon Power for Big Tech

Another Competitor in the Data Center Gold Rush

𝙒𝙝𝙖𝙩 𝙘𝙖𝙪𝙜𝙝𝙩 𝙢𝙮 𝙖𝙩𝙩𝙚𝙣𝙩𝙞𝙤𝙣? Exxon Mobil and Chevron looking to serve data center power demand with gas-fired generation paired with carbon capture and sequestration (CCS).

𝙒𝙝𝙮 𝙞𝙩 𝙢𝙖𝙩𝙩𝙚𝙧𝙨? Large oil and gas giants like Exxon and Chevron are positioning themselves to meet the rising power demand from data centers by focusing on low-carbon generation. Gas-fired power plants with Carbon Capture, Utilization, and Storage (CCUS) often provide a faster route to delivering "first power" compared to emerging technologies such as nuclear or geothermal.

These companies see their unique strengths as critical to deploying gas and CCS solutions at scale. With access to vast, long-life gas reserves, proven power generation expertise from operating energy-intensive industrial facilities (like LNG terminals and refineries), and deep subsurface capabilities for CCS development, they are well-equipped to deliver integrated low-carbon power solutions.

Will gas + CCS outcompete nuclear, geothermal and other options?

𝙇𝙞𝙣𝙠𝙨:

• Reuters reporting that “Chevron has been in talks for more than a year about supplying natural gas-fired power, coupled with carbon capture technologies, to data centers”

• Bloomberg reporting that “Exxon Mobil Corp. is working to provide emission-free electricity to data centers by equipping a large natural gas-fired power plant with carbon-capture equipment”