Aramco's carbon capture ambitions

Aramco is significantly advancing its net-zero ambitions with the signing of a shareholders’ agreement with Linde and SLB to progress the development of a Carbon Capture and Storage (CCS) hub at Jubail, set to become one of the largest globally

Under the terms of the shareholders’ agreement Aramco will take a 60% equity interest in the CCS hub, with Linde and SLB each owning a 20% stake.

The first phase of the hub, due for completion by late 2027, will have the capacity to capture nine million metric tons of CO2 from three Aramco gas plants and other industrial sources, with the potential for expansion in later phases. The captured CO2 will be transported through a pipeline network and stored below ground in a saline aquifer sink, leveraging the Kingdom’s geological potential for CO2 storage.

Net-zero ambitions

The project will support Aramco’s ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly-owned operated assets by 2050. It also complements the company’s blue hydrogen and ammonia initiatives.

Ashraf Al Ghazzawi, Aramco EVP of Strategy & Corporate Development, said, “CCS plays a critical role in furthering our sustainability ambitions and our new energies business. This announcement represents a step forward in delivering on our strategy to contribute to global carbon management solutions and achieve our emission mitigation goals. Aramco’s collaboration with SLB and Linde demonstrates the importance of global partnerships in driving technological innovation, reducing emissions from conventional energy sources and enabling new, lower-carbon energy solutions. This CCS hub is among several programmes that will enable us to meet rising demand for affordable, reliable, and more sustainable energy.”

Oliver Pfann, Linde EVP EMEA, added, “Carbon capture and sequestration is essential for achieving the Kingdom’s emission reduction targets. Linde is proud to collaborate with Aramco and SLB, contributing Linde’s innovative technology and experience in delivering world-scale decarbonization projects.”

Gavin Rennick, SLB president, New Energy, said, “Leveraging our proven portfolio of CCS technologies and extensive experience in complex CCS projects around the world, we are confident that SLB will play a critical role in advancing this important initiative. This project aligns perfectly with our commitment to industrial decarbonisation, and we look forward to collaborating closely with Aramco and Linde to make it a success.”