By YANGE IKYAA
Saudi Aramco has signed five key agreements with leading French companies, with the aim to boost hydrogen transport business in the kingdom and also explore opportunities in carbon capture technology and artificial intelligence.
Upstream quoted the state-owned energy giant on Saturday, saying it has signed multiple memoranda of understanding (MoUs) with French players, which include a key deal to explore a hydrogen-powered vehicle business with Gaussin, a pioneer in clean and intelligent transport solutions.
It said the agreement between Aramco and Gaussin aims to establish a modern manufacturing facility for on-road and off-road hydrogen-powered vehicles in the kingdom of Saudi Arabia, Aramco said.
Amin Nasser, chief executive of Aramco, said the partnership represents an opportunity to promote hydrogen as a low-carbon solution, not just for motorsport, but eventually for mass transportation as well.
“Such collaboration helps us to advance economic growth in the kingdom as part of the Namaat industrial investment programme and takes us a step closer to our shared vision of a more sustainable future,” Nasser noted.
As a first step, Gaussin and Aramco will study the feasibility of a manufacturing facility and a hydrogen distribution business to serve the Middle East region.
Aramco also signed four MoUs with French players Air Liquide, Alteia and Axens that are aimed at developing opportunities in the areas of carbon capture technology, artificial intelligence and local manufacturing.
A non-binding MoU with Air Liquide plans to “evaluate low carbon-hydrogen and ammonia production, logistics, and back cracking technology” opportunities in Saudi Arabia. The two players also signed an “additional non-binding MoU to evaluate carbon capture and sequestration opportunities” Aramco confirmed.
Furthermore, Aramco’s non-binding MoU with Alteia looks at developing advanced artificial intelligence-driven geospatial imagery interpretation and processing capabilities in the kingdom, while a similar MoU with Axens plans to explore the local manufacturing and maintenance services of furnaces and fired heaters.
As a part of the new deals, Aramco also plans to sponsor the world’s first hydrogen-fuelled racing truck, which has been developed by Gaussin and which will compete in the 2022 Dakar Rally in Saudi Arabia.
Saudi Aramco recently announced that it is targeting net zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly-owned operated assets by 2050.
Nasser had said the company’s ambition to reach net zero emissions across its operations in less than three decades is a historic step forward that will help tackle the most pressing challenge facing humanity.
The world’s largest oil-exporting nation has also unveiled a target of achieving net zero carbon emissions by 2060, even as it continues to expand its oil and gas production capacity.
Crown Prince, Mohammed bin Salman, said during the recently concluded Saudi Green Initiative Forum that the country aims to reach net zero emissions by 2060 “through the Carbon Circular Economy approach, in line with its development plans and enabling its economic diversification”.