Saudi Aramco announced on 4 December that it has signed a shareholders’ agreement with Linde and SLB for development of a 9mn t/y carbon capture and storage (CCS) hub at Jubail. Under the agreement Aramco will hold 60%, with Linde and SLB each taking 20%. The 9mn t/y first phase facility is due online by end-2027 (MEES, 23 June 2023).
This is a major landmark in the planned development of the CCS facility, which is expected to be one of the largest globally. CCS has long been seen as a crucial technology for decarbonizing the energy sector, but development of such large-scale facilities has been slow to get off the ground. (CONTINUED - 205 WORDS)