Aramco has signed a shareholders’ agreement with Linde and SLB, paving the way for development of a Carbon Capture and Storage (CCS) hub that is expected 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. With the support of the Ministry of Energy, phase one of the new CCS hub in Jubail, in the Kingdom of Saudi Arabia’s Eastern Province, is expected to capture and store up to nine million metric tons of CO2 annually, and construction is expected to be completed by the end of 2027. Later phases are expected to further expand its capacity.
Key highlights
- Aramco and its partners reached a milestone in the first phase of building a carbon capture and storage (CCS) hub in Jubail.
- The first phase construction is expected to be completed by 2027.
- The CCS hub will have the capacity to capture and store up to 9 million metric tons of CO2 per year.
- The project supports Aramco’s goal to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions by 2050.
- It also supports the interim target of reducing upstream carbon intensity by 15% by 2035.
- The CCS hub complements Aramco’s blue hydrogen and ammonia program.
- The project aligns with Saudi Arabia’s net-zero objectives.
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 programs that will enable us to meet rising demand for affordable, reliable, and more sustainable energy.
… said Ashraf Al Ghazzawi, Aramco EVP of Strategy & Corporate Development. Meanwhile, Oliver Pfann, Linde EVP EMEA, stated that they look forward to jointly realizing this landmark project which supports the development of a lower-carbon economy.
Phase one of the CCS hub will have the capacity to capture nine million tonnes of CO2 from three Aramco gas plants and other industrial sources. The captured CO2 will be transported through a pipeline network and stored below ground in a saline aquifer sink, leveraging the Kingdom’s potential for CO2 storage.
This project aligns perfectly with our commitment to industrial decarbonization, and we look forward to collaborating closely with Aramco and Linde to make it a success.
… commented Gavin Rennick, SLB President, New Energy.
