Ma’aden and Gulf Cryo have sealed a 20-year agreement to capture and utilise Ma’aden’s carbon emissions.
The long-term agreement, signed on the sidelines of COP27, is considered among the largest carbon projects in the region and will recover as much as 300,000 Mtpa of carbon dioxide (CO2) emissions.
Gulf Cryo will construct and operate a ‘mega’ CO2 capturing plant in the Ma’aden integrated phosphate complex in Saudi Arabia, with the first phase due to be operational by 2024.
The partnership aims to reduce emissions at the mining company while providing a clean CO2 source to be used in industrial gases in the Kingdom. The captured CO2 will be distributed by Gulf Cryo, partly to International Maritime Industries, Saudi’s maritime yard, and the rest will be used in industrial applications such as Enhanced Oil Recovery (EOR) and water desalination, as well as other industries.
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