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The projects were announced through Saudi Arabia’s Minister of Energy at the Saudi Green Initiative Forum.
At the SGI Forum, the Minister of Energy also announced the signing of a joint progression agreement with Saudi Aramco and its partners for the world’s largest planned Carbon Capture and Storage (CCS) facility. The Jubail Industrial City facility will start operating by 2027 and will be able to extract and purchase nine million mtpa of CO2 in its first phase, supporting Saudi Arabia’s goal of extracting and storing 44 mtpa of CO2 by 2035.
Prince Abdulaziz bin Salman attended the launch of two carbon capture and use pilot projects led by KAUST, NEOM and SEC, Alsafwa Cement Company and Abdullah Hashim Industrial Gases
Over the past year, Saudi Arabia has accelerated the speed of its climate action. The kingdom will fulfill the SGI’s goal of leaving 30 percent of its land and sea under cover by 2030, and will plant more than six hundred million trees in the same timeframe, building more than 150 million trees from the original purpose of planting 450 million by 2030.
The country’s commitment to reduce emissions through 278 mtpa by 2030 through the CEC technique is on track. In line with the kingdom’s ambition to succeed in 50% of electricity generation capacity from renewable energy by 2030, thirteen new renewable energy projects with a total capacity of 11. 4 GW, with an estimated investment price of $9 billion (SAR34 billion), are under development. The projects, once consistent with the national ones, are expected to decrease through around 20 million tons of CO2e consistent with the year.
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