6 energy companies investing most in carbon capture
Carbon capture has moved from a niche technology to a central component of global decarbonisation strategies. As governments tighten emissions targets and industrial sectors face increasing pressure to reduce carbon output, energy companies are investing heavily in carbon capture and storage solutions to maintain competitiveness while transitioning toward lower carbon operations.
In 2026, carbon capture investment is no longer experimental. It is being deployed at scale across industrial hubs, offshore storage sites, and emerging direct air capture facilities. The following six energy companies stand out for committing significant capital and strategic focus to carbon capture, shaping the future of emissions reduction across the energy sector.
1. ExxonMobil scaling large scale carbon capture infrastructure
ExxonMobil has positioned itself as one of the most aggressive investors in carbon capture, particularly in the development of large scale CCS hubs. The company has proposed multi billion dollar projects along the US Gulf Coast, aiming to capture and store millions of tonnes of carbon dioxide annually.
A key element of its strategy is the creation of shared infrastructure. By developing centralised capture and storage networks, ExxonMobil aims to serve multiple industrial emitters, reducing costs and accelerating adoption. This hub model reflects a broader shift in how carbon capture is deployed at scale.
The company has indicated that carbon capture could become a significant revenue stream, with estimates suggesting the market could reach hundreds of billions of dollars globally by mid century. ExxonMobil’s early investment is designed to secure a leading position in this emerging sector.
By leveraging its expertise in subsurface geology and large scale project execution, ExxonMobil is transforming carbon capture from a compliance tool into a core business opportunity.
2. Shell advancing global carbon capture projects
Shell has built one of the most diverse carbon capture portfolios among energy companies, with projects spanning Europe, North America, and Asia. Its involvement in the Northern Lights project in Norway represents a landmark development in cross border carbon storage.
Northern Lights is designed to transport and store carbon dioxide from multiple European industrial sources beneath the North Sea. This collaborative approach highlights how carbon capture is evolving into an international value chain.
Shell is also investing in capture technology at refineries and industrial facilities, integrating CCS into its broader decarbonisation strategy. The company has committed to reducing the carbon intensity of its operations while supporting customers in lowering emissions.
In addition, Shell is exploring carbon capture in combination with hydrogen production, particularly blue hydrogen, where emissions from natural gas processing are captured and stored.
This multi pronged strategy positions Shell as a key player in scaling carbon capture across different regions and applications.
3. Chevron expanding carbon capture across industrial sectors
Chevron has focused its carbon capture investments on partnerships and industrial applications, recognising that collaboration is essential to scaling the technology. The company is involved in several CCS initiatives targeting emissions from heavy industry, including cement and steel production.
One of Chevron’s strengths lies in its ability to integrate carbon capture into existing operations. By retrofitting facilities and leveraging existing infrastructure, the company can reduce emissions without requiring entirely new systems.
Chevron is also investing in research and development to improve capture efficiency and lower costs. This includes exploring new materials and processes that can make carbon capture more commercially viable.
The company’s approach reflects a pragmatic view of decarbonisation, where incremental improvements and partnerships drive progress. As regulatory frameworks evolve, Chevron’s investments position it to meet compliance requirements while maintaining operational efficiency.
4. TotalEnergies integrating carbon capture into energy transition strategy
TotalEnergies has embedded carbon capture into its broader transition strategy, linking CCS with renewable energy and low carbon fuels. The company is involved in several major projects in Europe, including initiatives that connect industrial emitters to offshore storage sites.
A defining feature of TotalEnergies’ approach is integration. Rather than treating carbon capture as a standalone solution, it is combined with hydrogen production and renewable energy systems to create lower carbon energy value chains.
The company is also investing in transport infrastructure, including pipelines and shipping solutions for captured carbon dioxide. This is critical for scaling CCS, as many emitters are located far from suitable storage sites.
TotalEnergies has emphasised that carbon capture will play a key role in achieving net zero targets, particularly in sectors where emissions are difficult to eliminate entirely.
By aligning CCS with its wider portfolio, the company is positioning itself as a leader in comprehensive decarbonisation strategies.
5. Equinor pioneering offshore carbon storage solutions
Equinor has been at the forefront of carbon capture and storage for decades, building on its experience in offshore energy production. Its projects in the North Sea demonstrate how existing expertise in subsurface operations can be applied to long term carbon storage.
The company has played a central role in developing large scale storage facilities beneath the seabed, where carbon dioxide can be securely stored in geological formations. These offshore sites offer significant capacity, making them a key component of Europe’s carbon management strategy.
Equinor is also involved in projects that connect multiple countries, enabling cross border transport and storage of carbon dioxide. This reflects the growing importance of international cooperation in scaling carbon capture.
In addition, the company is investing in monitoring technologies to ensure the safety and integrity of storage sites over time. This is essential for building public and regulatory confidence in CCS.
Equinor’s leadership in offshore storage highlights the importance of technical expertise in advancing carbon capture solutions.
6. Occidental leading direct air capture and CCS investment
Occidental has taken a distinctive approach to carbon capture by focusing heavily on direct air capture technology. Through its subsidiary, the company is developing facilities designed to remove carbon dioxide directly from the atmosphere.
This approach goes beyond capturing emissions at the source, offering the potential to reduce existing atmospheric carbon levels. Occidental’s projects aim to scale this technology to millions of tonnes of removal capacity.
The company is also integrating direct air capture with traditional CCS, using captured carbon dioxide for storage or industrial applications. This creates new revenue opportunities while supporting decarbonisation goals.
Occidental has secured partnerships and funding to accelerate development, reflecting growing interest in carbon removal technologies among both governments and private investors.
By investing in direct air capture alongside conventional CCS, Occidental is helping to expand the scope of carbon capture within the energy sector.
What this means for the future of carbon capture
Carbon capture is rapidly becoming a cornerstone of global energy strategy. The scale of investment by leading energy companies signals a shift from pilot projects to fully commercial operations that can deliver meaningful emissions reductions.
The companies highlighted here demonstrate different pathways to scaling carbon capture, from infrastructure hubs and offshore storage to direct air capture and integrated energy systems. Together, they illustrate how the technology is evolving to meet the needs of diverse industries.
As policy support increases and costs continue to decline, carbon capture is likely to play an even greater role in achieving climate targets. For energy companies, the ability to invest and innovate in this space will be critical not only for compliance but for long term competitiveness.
