Aramco, a global energy and chemicals leader, has signed a shareholder agreement with Linde and SLB to establish one of the world’s largest Carbon Capture and Storage (CCS) hubs. Under the agreement, Aramco will hold a 60% equity stake, with Linde and SLB each owning 20%.
The CCS hub, to be located in Jubail in Saudi Arabia’s Eastern Province, is a significant step in Aramco’s efforts to reduce emissions. Supported by the Ministry of Energy, the first phase of the project is set to capture and store up to nine million metric tons of CO2 annually, with completion targeted by the end of 2027. Future expansions will increase its capacity further, contributing to Aramco’s goal of achieving net-zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly-owned operated assets by 2050.
Aramco EVP of Strategy & Corporate Development, Ashraf Al Ghazzawi, emphasized the hub’s importance in advancing sustainability and global carbon management, highlighting the role of international collaboration with Linde and SLB in driving technological innovation and enabling low-carbon energy solutions.
Linde EVP EMEA, Oliver Pfann, noted the project’s significance for achieving Saudi Arabia’s emission reduction goals, praising Linde’s contribution of decarbonization expertise. SLB President, New Energy, Gavin Rennick, affirmed SLB’s commitment to industrial decarbonization and its readiness to leverage its CCS technologies for this transformative initiative.
Announced during the Saudi Green Initiative Forum in Riyadh, the CCS hub aligns with the Kingdom’s circular carbon economy strategy and its 2060 net-zero target. In phase one, CO2 will be captured from Aramco’s gas plants and other industrial sources, transported via a pipeline network, and stored underground in a saline aquifer, utilizing Saudi Arabia’s geological potential for CO2 storage. This landmark project underscores the critical role of CCS in achieving global climate objectives and reflects Aramco’s dedication to meeting the rising demand for affordable, reliable, and sustainable energy.
