Saudi oil giant Aramco has entered into a shareholder agreement with industrial gas leader Linde and energy technology company SLB to establish a Carbon Capture and Storage (CCS) hub in Jubail, Saudi Arabia, which is set to become one of the largest of its kind globally.
Under the agreement, Aramco will hold a 60% stake in the project, with Linde and SLB each securing 20%.
The hub is supported by the Saudi Ministry of Energy and it is designed to advance Aramco’s emission reduction efforts and aligns with the Kingdom’s broader sustainability goals, including its 2060 net-zero target.
The first phase of the CCS hub, set to be operational by the end of 2027, aims to capture and store up to nine million metric tonnes of CO2 annually.
The captured emissions will primarily come from three Aramco gas plants and other industrial sources, with plans to expand capacity in subsequent phases. CO2 will be transported through an extensive pipeline network and stored underground in saline aquifers, utilizing Saudi Arabia’s vast geological potential for carbon storage.
“This initiative underscores our commitment to global carbon management solutions,” said Ashraf Al Ghazzawi, Executive Vice President of Strategy and Corporate Development at Aramco. “Collaboration with Linde and SLB highlights the importance of international partnerships in driving innovation and enabling lower-carbon energy solutions.”
Oliver Pfann, Executive Vice President EMEA at Linde, said that the hub is aligned with Saudi Arabia’s emission reduction strategy. “Carbon capture and sequestration is essential for achieving the Kingdom’s targets. Linde is proud to bring our expertise in decarbonization technologies to this landmark project.”
Gavin Rennick, President of New Energy at SLB, added: “This hub will abate millions of tons of CO2 annually, leveraging our CCS technology and experience in similar projects worldwide. It represents a vital step in industrial decarbonization.”
The project was unveiled during the Saudi Green Initiative Forum in Riyadh, and it reflects Saudi Arabia’s commitment to the circular carbon economy framework. It supports Aramco’s ambition to achieve net-zero Scope 1 and Scope 2 emissions across its operated assets by 2050 while addressing global demand for affordable and sustainable energy.
