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Ed Aarons has the report on a lively night at the Emirates. That’s all from me – thanks for joining.
We have our semi-final matchups: Chelsea v Arsenal and Newcastle v Manchester City. We won’t have a new winner this season.
Updated at 17.49 EST
Would love to know what was going through Arrizabalaga’s head throughout that shootout. Surely, it went to this:
Poor Maxence Lacroix. An own goal, one he knew little about, to go with a penalty miss that wasn’t that bad an effort. Palace threatened to pull off a heist there after that late, late equaliser by Marc Guéhi. But, just as it went last December, Arsenal are victors.
ShareArsenal reach semi-finals of the Carabao Cup
Well that was all very exciting, wasn’t it? Those were some brilliant penalties all round, the keepers not coming close until Arrizabalaga guessed correctly.
Updated at 17.22 EST
Arsenal win 8-7 on penalties!
Arrizabalaga dives to his right and saves from Lacroix! And it’s finally over!
Kepa saves and Arsenal are through! Photograph: Dylan Martinez/ReutersShare
Updated at 17.22 EST
Penalties: Arsenal 8-7 Crystal Palace
Saliba finds the bottom left corner. Lee Dixon wants the managers to take one.
SharePenalties: Arsenal 7-7 Crystal Palace
Uche keeps the perfect run going.
SharePenalties: Arsenal 7-6 Crystal Palace
Timber up to the plate … Benítez goes the right way but there’s too much power on it.
SharePenalties: Arsenal 6-6 Crystal Palace
Here’s Wharton, and he finds the corner, too!
SharePenalties: Arsenal 6-5 Crystal Palace
Calafiori smashes home.
SharePenalties: Arsenal 5-5 Crystal Palace
Lerma set up the Palace equaliser … and he nails his spotkick, too. These are some classy pens.
SharePenalties: Arsenal 5-4 Crystal Palace
Merino sends Benítez the other way.
Mikel Merino never looked like missing. Photograph: Alex Pantling/Getty ImagesShare
Updated at 17.16 EST
Penalties: Arsenal 4-4 Crystal Palace
Sosa, a late sub for Palace, finds the bottom left corner.
SharePenalties: Arsenal 4-3 Crystal Palace
Trossard puts the ball on the spot … and finds the top right corner. Where are the nerves?
SharePenalties: Arsenal 3-3 Crystal Palace
Hughes keeps the hit rate at 100%.
SharePenalties: Arsenal 3-2 Crystal Palace
It’s Saka … and it finds the corner. Neither keeper has had a sniff yet.
Bukayo Saka makes sure. Photograph: Clive Mason/Getty ImagesShare
Updated at 17.15 EST
Penalties: Arsenal 2-2 Crystal Palace
Devenny, who came on at half-time, levels up.
Justin Devenny sends Kepa the wrong way. Photograph: Dylan Martinez/ReutersShare
Updated at 17.14 EST
Penalties: Arsenal 2-1 Crystal Palace
Rice is next up for Arsenal … and he smashes it down the middle.
SharePenalties: Arsenal 1-1 Crystal Palace
Mateta, calm as you like, rolls his in.
SharePenalties: Arsenal 1-0 Crystal Palace
Ødegaard steps up for the first penalty … and goes left to slot in comfortably. Benítez went the other way.
Kepa Arrizabalaga and penalties in the League Cup. That rings a bell.
ShareTime for penalties!
90+12 min: Arsenal have one last go … and that man Benítez is on hand to deny a Rice prod from close range! We’re going to penalties!
90+10 min: Rice whips it in … it’s, as expected, deep and dangerous, but Palace escape and counter after Saka goes down on the edge of the box.
90+9 min: Penalties await … but Arsenal have a corner …
90+7 min: Oliver Glasner’s boys are doing it in the cup, once again.
ShareGOAL! Arsenal 1-1 Crystal Palace (Guéhi 90+5)
Palace have a free-kick out on the left, with Wharton to give it a whip … it’s deep and met with a downward header by Lerma, and Guéhi is on hand for the tap-in! Incredible!
Marc Guehi scores for Palace! Photograph: Simon Dael/ShutterstockShare
Updated at 16.59 EST
90+3 min: Ivan Victor writes: “Arsenal’s last four goals: one penalty, three own goals. The stuff of champions?” Whatever gets the job done, I suppose.
90+2 min: Guéhi, trying to clean up at the back, gets himself in a tangle and Timber has a chance on the six-yard line … Benítez is quick to make himself big and pull off another save. He’s been so good tonight.
90 min: Declan Rice is on, by the way. We’ll have … nine minutes of added time!
89 min: The life has been sucked out of this game with that goal, Palace lacking any real thrust to get back into this. That heavy fixture list is surely playing a part – this is their third game in six days.
Updated at 17.55 EST
88 min: Palace waste a quarter-chance; Arsenal mess up playing out from the back, Hughes slides in the substitute Uche inside the area but he miscues his cross.
84 min: Palace have been much improved in this half and they’ve got a free-kick from range, with Pino to deliver … it travels out for a goalkick.
Saka whips in a deep, teasing ball. The Arsenal header towards goal is blocked, prompting a game of pinball in the area; somehow the ball pings off Lacroix and into his own net. The brilliant Benítez is finally beaten.
ShareGOAL! Arsenal 1-0 Crystal Palace (Lacroix OG 80)
It doesn’t get scrappier than that.
Maxence Lacroix gets the last touch as Arsenal lead! Photograph: Simon Dael/ShutterstockShare
Updated at 16.47 EST
79 min: Carnage. A dangerous Palace corner turns into an Arsenal break … Jesus launches a curling shot, ready to find the top right corner … but Walter Benítez refuses to be beaten. He tips it round for a corner.
Updated at 16.47 EST
78 min: Pino has space to play in Mateta inside the area … the ball’s a touch heavy and Saliba’s perfectly timed sliding challenge gets in the way.
76 min: Richards is off, with Will Hughes on for Palace. Jesus has a chance as he rushes into the right channel … but there’s little composure on show as he lashes the bouncing ball over the bar.
Updated at 16.37 EST