Saudi Aramco, the world’s top oil exporting company, has launched a pilot direct air capture unit, which can remove 12 tonnes of carbon dioxide annually from the atmosphere, as it seeks to contribute to global emissions reduction efforts.
The plant, developed in partnership with Siemens Energy, is the kingdom's first carbon dioxide direct air capture (DAC) unit and will be used as a testing platform for “next-generation CO2 capture materials”, Aramco said in a statement on Thursday.
Unlike traditional carbon capture, which targets carbon dioxide from point sources such as power plant emissions, DAC units are designed to capture CO2 molecules dispersed throughout the atmosphere.
“Technologies that directly capture carbon dioxide from the air will likely play an important role in reducing greenhouse gas emissions moving forward, particularly in hard-to-abate sectors,” said Ali Al Meshari, Aramco's senior vice president of technology oversight and co-ordination.
“The test facility launched by Aramco is a key step in our efforts to scale up viable DAC systems, for deployment in the kingdom … and beyond."
Aramco and Siemens Energy will continue working closely together with the aim of scaling up the technology, potentially setting the stage for “large-scale” DAC projects in the future, the Saudi company said.
The oil company plans to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across its assets by 2050.
The DAC test facility launch comes after Aramco and its partners, Linde and SLB, announced in December a shareholders’ agreement to develop a carbon capture and storage (CCS) hub in Jubail, Saudi Arabia.
The first phase of the CCS hub is designed to capture nine million tonnes of CO2 from three Aramco gas plants and various industrial sources.
In addition to Aramco, major oil companies such as ExxonMobil and Occidental Petroleum (Oxy) are investing in DAC projects to reduce their carbon footprint and achieve net-zero commitments.
Oxy is building the world's largest DAC plant in Texas, US, which will be able to capture up to 500,000 tonnes of CO2 annually when fully operational this year.
At the CERAWeek energy conference in Houston this month, Aramco chief Amin Nasser expressed doubt about current energy transition plans, saying there was a greater chance of the late musician Elvis Presley making an appearance than the plan proving a success.
Mr Nasser said about $10 billion in transition spending in the past 20 years featured promises of cheaper and more sustainable energy that were “impossible to keep”. He said it would cost an estimated $6 trillion to $8 trillion annually to fund climate action properly.
“It has been a painful awakening for those who thought energy affordability and security could be taken for granted,” Mr Nasser added.
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
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Director: Laxman Utekar
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57%20Seconds
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Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)