Aker Carbon Capture and Aramco, a globally renowned energy and chemicals company, have entered into a Memorandum of Understanding (MoU) to explore collaborative ventures in Saudi Arabia pertaining to carbon capture, utilisation, and storage (CCUS) as well as industrial modularisation.
The primary focus of this MoU is to address the reduction and elimination of carbon emissions through CCUS technologies in various industries and energy solutions. The partnership aims to provide modular carbon capture plants and associated aftermarket services. Additionally, the parties intend to evaluate the potential for developing local supply chains and module fabrication capabilities. The duration of the MoU is set for two years.
This strategic collaboration demonstrates their commitment to sustainable solutions and contributing to the global efforts in reducing carbon emissions and promoting environmental stewardship.
“We are pleased to announce this opportunity with Aramco that aims to support Saudi Arabia’s Vision 2030 and the Kingdom’s Net Zero 2060 ambition. Together, we aspire to explore the establishment of a local modular CCUS industry, creating new jobs and helping Saudi Arabia’s important journey towards net zero emissions. This MoU is a potential first step for Aker Carbon Capture into the Middle East. Through the Middle East Green Initiative, the region aims to reduce CO2 emissions by 670 million tonnes per year. It is important for Aker Carbon Capture to support this major undertaking, which represents around 10% of global nationally determined contributions,” said Egil Fagerland, Chief Executive Officer at Aker Carbon Capture.
“The partnership with Aker Carbon Capture will support our efforts in developing and deploying cutting edge technologies in the area of carbon capture. We are also exploring advanced technologies with our partners to improve efficiency and minimise emissions in transportation, low-carbon hydrogen fuels and renewables to achieve our ambition,” said Mr. Ahmad Al-Sa’adi, Executive Vice President of Technical Services, Aramco.
In addition, Aker Carbon Capture and Aramco aim to explore the potential of creating modular solutions for various industries in Saudi Arabia.