June 22, 2024
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OIL & GAS RENEWABLE ENERGY

Saudi Aramco Signs 3 MoUs with USA Firms For Lower Carbon Solutions

Saudi Arabian oil giant Aramco, has entered into three Memoranda of Understanding with U.S companies Aeroseal, Spiritus and Rondo for the development of potential lower-carbon energy solutions. Aramco Sr. Vice President of Technology, Oversight & Coordination Ali Al-Meshari stated this in a news release.

He said “Aramco has stated its ambition to achieve net zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly-owned operated assets by 2050, and sees opportunities to build potential lower-carbon new energy business.

“Innovative technologies deployed at scale can help reduce the costs of reducing carbon emissions, and we are investing in developing these through our R&D [research and development], venture capital, and technology deployment programs. We believe direct air capture has the potential to play an important role in reducing carbon emissions from hard-to-abate sectors of the economy, and we see Spiritus’ approach to have the potential to scale globally, and specifically in the Middle East,” he added.

Aramco and Aeroseal agreed to explore opportunities to accelerate the deployment of Aeroseal’s technology in the company’s building fleet, after a successful trial of Aeroseal’s technology in Saudi.

The content of the MoU includes, pursuing the joint testing of building ductwork and envelopes nationwide to uncover prominent opportunities. It will also commercialize the technology in novel applications such as gas pipelines and aims to localize Aeroseal’s supply chain in Saudi Arabia.

While Spiritus, which is a climate tech company pioneering cost-effective solutions for DAC of carbon removal, will together with Aramco, collaborate in the field of direct air capture (DAC).

And Aramco and Rondo, on the other side, agreed to explore the deployment of heat batteries in Aramco’s global facilities to reduce operating costs and support emissions reduction initiatives.

The signing of the MoUs, took place in Riyadh, Saudi Arabia and in the presence of Minister of Energy for the Kingdom of Saudi Arabia HRH Prince Abdulaziz bin Salman al Saud and US Secretary of Energy Jennifer Granholm.

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