The Clap
Saudi Aramco (2222) signed a joint development agreement with SLP and Linde, to establish a carbon capture and storage center that will potentially store up to nine million tons of CO2 annually by 2027.
The Deets
Aramco is expected to contribute about six million tons, with the rest coming from other industrial sources.
The facility will be located in Jubail on the eastern coast of KSA, with the aim of capturing 44 million tons of carbon by 2035.
So What
The project is part of KSA’s plan to produce blue hydrogen, which produces no emissions when burned.
The company aims to become one of the world’s largest exporters of blue hydrogen over the next decade.
Now What
The carbon capture facility in Jubail will be able to store the equivalent of emissions from nearly two million gasoline passenger cars driven over the course of a year.
Saudi Arabia hopes to achieve its goal of neutralizing emissions by 2060.
