Saudi Aramco Joins World Bank’s ‘Zero Routine Flaring by 2030’

Saudi Aramco's logo is pictured at the company's oil facility in Abqaiq, Saudi Arabia. Reuters file photo
Saudi Aramco's logo is pictured at the company's oil facility in Abqaiq, Saudi Arabia. Reuters file photo
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Saudi Aramco Joins World Bank’s ‘Zero Routine Flaring by 2030’

Saudi Aramco's logo is pictured at the company's oil facility in Abqaiq, Saudi Arabia. Reuters file photo
Saudi Aramco's logo is pictured at the company's oil facility in Abqaiq, Saudi Arabia. Reuters file photo

Saudi Aramco has announced that it is joining the World Bank Initiative ‘Zero Routine Flaring by 2030’.

The company also has a strong focus on flaring reduction, which remained at less than 1 percent of its total raw gas production in the first half of 2019.

“We are proud to join the ‘Zero Routine Flaring by 2030’ Initiative, which we view as an important global effort to eliminate flaring. We have been taking active steps to reduce flaring in our operations for the past 40 years and have invested in a range of flaring reduction technologies and programs to achieve our excellent performance,” Ahmad A. Al-Saadi, Saudi Aramco Senior Vice-President, Technical Services said.

“Beyond this initiative, we are also investing in advanced technologies to enable greater efficiency and lower emissions in transport, carbon-free hydrogen fuels, and carbon capture, utilization and storage (CCUS). This is all part of our broader effort to enable the circular carbon economy and deliver clean, reliable and affordable energy to the world while minimizing greenhouse gas emissions,” he noted.

Saudi Aramco’s low flaring levels are a result of its decades-long focus on sustainability, which encompasses the development of the Kingdom’s Master Gas System in the 1970’s, rolling out a Company-wide Flaring Minimization Roadmap, using innovative flaring reduction technologies and establishing a Fourth Industrial Revolution Center that monitors all the Company’s operations including flaring in real-time.

In addition, and as a result of Saudi Aramco’s reservoir management best practices, flaring minimization and energy efficiency programs, the Company’s 2018 upstream carbon intensity figure is among the lowest globally at 10.2 kilograms of CO2 equivalent per barrel of oil equivalent.

Launched in April 2015, the ‘Zero Routine Flaring by 2030’ Initiative is a World Bank climate collaboration that brings together governments, oil and gas companies, and development institutions from around the world to eliminate routine flaring by 2030. Over 80 governments and organizations have joined the initiative, including the Government of Saudi Arabia, which joined in December 2018.



Saudi Arabia Tackles Carbon Management Challenges at COP 29

Speakers participate in a discussion session in the Saudi pavilion during the COP29. (Asharq Al-Awsat)
Speakers participate in a discussion session in the Saudi pavilion during the COP29. (Asharq Al-Awsat)
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Saudi Arabia Tackles Carbon Management Challenges at COP 29

Speakers participate in a discussion session in the Saudi pavilion during the COP29. (Asharq Al-Awsat)
Speakers participate in a discussion session in the Saudi pavilion during the COP29. (Asharq Al-Awsat)

During a panel discussion titled, “The Carbon Management Challenge: Scaling Carbon Management to Gigaton Levels” at the Saudi Pavilion at COP 29, speakers highlighted the critical role of international collaboration in advancing carbon capture technologies and emphasized Saudi Arabia’s ambitious goal of achieving net-zero emissions by 2060.

The discussion focused on Saudi Arabia’s adoption of the Circular Carbon Economy framework, which centers on four key pillars: reducing emissions, reusing carbon, recycling, and removing carbon.

The participants pointed to the importance of international cooperation in developing new carbon capture technologies and establishing independent carbon transport and storage projects. According to reports, over 50 advanced carbon capture and storage (CCS) projects are currently in progress globally, with a combined capacity of 50 million tons. Furthermore, investment decisions have been made for 44 additional CCS projects under development around the world.

The session also explored advancements in various industries, such as the cement sector. Countries like Japan, China, and European nations have made significant progress in carbon capture technologies, while emerging economies such as Canada and Thailand are working on financing decarbonization efforts in the cement industry.

The speakers underscored the crucial role of governments in enabling these initiatives by making financial investments and developing the necessary infrastructure. They also pointed out that supportive government policies are essential for driving these projects forward and fostering collaboration between the public and private sectors. This aligns with the Clean Energy Ministerial’s focus on advancing policies for carbon capture, utilization, and storage technologies.

The participants further stressed that global goals to reduce emissions and combat climate change can only be achieved through international cooperation, robust policy frameworks, and the sharing of expertise across all stakeholders.