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Saudi Arabia's Aramco is planning to set up one of the largest carbon capture and storage (CCS) hubs in Jubail as the energy giant is driving forward its emission mitigation strategy.
The company has signed a shareholders’ agreement with Linde, the world's largest industrial gases company, and top oilfield services firm SLB.
Under the terms of the deal, Aramco will take a 60% equity interest in the CCS hub, with Linde and SLB each owning a 20% stake.
Phase one of the new CCS hub in Jubail, in the kingdom’s Eastern Province, is expected to capture and store up to nine million metric tons per annum (MMtpa) 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,
The construction is set to be completed by the end of 2027 and by 2035 Aramco has a target of capturing up to 11 MMtpa of CO2.
(Writing by Brinda Darasha; editing by Seban Scaria)
