Aramco, a global leader in energy and chemicals, has entered into a shareholders’ agreement with Linde and SLB to develop one of the largest Carbon Capture and Storage (CCS) hubs in the world. Aramco will hold a 60% equity stake in the project, while Linde and SLB will each own 20%. This collaboration marks a significant milestone in Aramco’s strategy to mitigate emissions and achieve sustainability goals.

The first phase of the CCS hub, located in Jubail in Saudi Arabia’s Eastern Province, aims to capture and store up to nine million metric tons of CO2 annually. Supported by the Ministry of Energy, construction is slated for completion by the end of 2027, with future phases planned to expand its capacity. The project is a key component of Aramco’s ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly owned operated assets by 2050.

Aramco’s Executive Vice President of Strategy & Corporate Development, Ashraf Al Ghazzawi, emphasized the critical role of CCS in the company’s sustainability initiatives, saying, “This announcement advances our strategy to contribute to global carbon management solutions and emission mitigation goals. Our partnership with SLB and Linde underscores the importance of global collaboration in driving innovation and enabling lower-carbon energy solutions.”

Linde’s Executive Vice President EMEA, Oliver Pfann, highlighted the project’s alignment with Saudi Arabia’s emission reduction targets. He stated, “Linde is proud to bring its expertise in delivering large-scale decarbonization projects to this landmark initiative, which supports the development of a lower-carbon economy.”

Gavin Rennick, SLB’s President of New Energy, added, “This project reflects SLB’s commitment to industrial decarbonization. With our portfolio of CCS technologies and experience in complex projects worldwide, we are well-positioned to contribute to the success of this initiative.”

The announcement, made during the Saudi Forum in Riyadh, aligns with the Kingdom’s circular carbon economy approach to achieving its 2060 net-zero target. Phase one of the CCS hub will capture CO2 emissions from three Aramco gas plants and other industrial sources. The captured CO2 will be transported via a pipeline network and stored underground in a saline aquifer, leveraging Saudi Arabia’s vast geological potential for carbon storage.

This project represents a significant step toward reducing emissions and supporting the transition to a more sustainable energy future while meeting the rising demand for affordable and reliable energy solutions.

Aramco is among the world's largest integrated energy and chemicals companies, adding value across the entire hydrocarbon chain and providing societal and economic benefits to communities worldwide that depend on its energy supply. The company is dedicated to taking a leading role in the energy transition.