Saudi Arabian Oil, known as Saudi Aramco, has taken significant steps toward its net-zero objectives by establishing a shareholders' agreement with leading industrial gases and engineering firm Linde and oilfield services provider SLB to develop one of the largest carbon capture and storage hubs globally in Jubail, Saudi Arabia.
This ambitious initiative forms part of Aramco's broader strategy to mitigate emissions, with a target to reduce upstream emissions by 15% by 2035, while aiming for net-zero scope 1 and 2 greenhouse gas emissions by 2050. Furthermore, this project aligns with Aramco's programs focused on blue hydrogen and ammonia, and supports Saudi Arabia's long-term goal of achieving net-zero emissions by 2060. Under the terms of the agreement, Aramco will hold a 60% stake in the carbon capture hub, while both Linde and SLB will each have a 20% interest in the project. The hub's initial phase is designed to capture and store 9 million metric tons of carbon dioxide annually, which will be sourced from three of Aramco's gas plants and other industrial entities.
This CO2 will then be transported via pipelines to be stored in a geological saline aquifer. Aramco's executive vice president of strategy and corporate development, Ashraf Al Ghazzawi, stated, "CCS plays a critical role in furthering our sustainability ambitions and our new energies business. Aramco's collaboration with SLB and Linde demonstrates the significance of global partnerships in driving technological innovation, reducing emissions from conventional energy sources, and enabling new, lower-carbon energy solutions." He emphasized that this CCS hub represents one of several initiatives aimed at meeting increasing demand for affordable, reliable, and more sustainable energy. The construction of the initial phase of the hub is scheduled for completion by the end of 2027, with plans for additional phases expected to enhance its carbon capture and storage capabilities..