Aramco, Linde And SLB Collaborate On One Of The Largest Carbon Capture And Storage Hubs Globally

Aramco, a major player in the global energy and chemicals sector, has entered into a shareholders' agreement with Linde and SLB. This collaboration aims to establish a significant Carbon Capture and Storage (CCS) hub, anticipated to be among the largest worldwide. Aramco will hold a 60% stake in this venture, while Linde and SLB will each possess 20%. This initiative marks a crucial step in Aramco's strategy to reduce emissions.

The initial phase of the CCS hub, located in Jubail within Saudi Arabia's Eastern Region, is set to capture and store up to nine million metric tons of CO2 annually. Supported by the Ministry of Energy, construction is expected to conclude by the end of 2027. Subsequent phases are planned to increase the hub's capacity further. This project aligns with Aramco's goal of achieving net-zero Scope 1 and Scope 2 greenhouse gas emissions across its fully owned operated assets by 2050.

Ashraf Al Ghazzawi, Aramco's EVP of Strategy & Corporate Development, emphasized the importance of CCS in advancing sustainability goals and new energy ventures. "CCS plays a critical role in furthering our sustainability ambitions and our new energies business," he stated. The collaboration with SLB and Linde highlights the significance of international partnerships in fostering technological advancements, reducing emissions from traditional energy sources, and enabling new low-carbon energy solutions.

Linde's EVP EMEA Oliver Pfann expressed pride in partnering with Aramco and SLB on this project. "Carbon capture and sequestration is essential for achieving the Kingdom’s emission reduction targets," he noted. Linde brings innovative technology and experience in executing large-scale decarbonization projects to this collaboration. The project supports developing a lower-carbon economy.

Gavin Rennick, President New Energy at SLB, highlighted their involvement in this ambitious effort to reduce CO2 emissions through the Jubail CCS hub. "SLB is proud to be a part of ground-breaking efforts to enable abatement of millions of tons of CO2 annually through the Jubail CCS hub," he said. With extensive experience in complex CCS projects globally, SLB aims to play a vital role in advancing this initiative.

The agreement was finalized during the Saudi Green Initiative Forum held in Riyadh. It reflects a circular carbon economy approach aimed at reducing emissions, contributing towards Saudi Arabia’s target of achieving net-zero emissions by 2060. Phase one will capture nine million tons of CO2 from three Aramco gas plants and other industrial sources.

Utilizing Geological Potential for CO2 Storage

The captured CO2 will be transported via pipeline for underground storage within a saline aquifer sink, utilizing Saudi Arabia’s substantial geological potential for CO2 storage. This method underscores the Kingdom's commitment to leveraging natural resources for sustainable development.

This initiative represents one among several programs designed to meet increasing demand for affordable yet sustainable energy solutions. By integrating advanced technologies with strategic partnerships like those with Linde and SLB, Aramco aims not only at emission reduction but also at ensuring reliable energy supply globally.

With inputs from SPA