TAQA, ARI partner to develop carbon sequestration opportunities in KSA, Mideast
- Date: 20-Nov-2021
- Source: Zawya
- Sector:Oil & Gas
- Country:Saudi Arabia
TAQA, ARI partner to develop carbon sequestration opportunities in KSA, Mideast
RIYADH: Industrialization and Energy Services Company (TAQA) and Advance Resources International Inc. have announced the formation of a strategic alliance to develop carbon sequestration and underground storage opportunities in Saudi Arabia and the Middle East region. The timing of the alliance coincides with the Saudi Green Initiative and the Middle East Green Initiatives launched earlier last week in Riyadh.
Carbon sequestration is the process of capturing and storing atmospheric carbon dioxide. It is one method of reducing the amount of carbon dioxide in the atmosphere with the goal of reducing global climate change.
Khalid Nouh, TAQA chief executive, said: “We’re very excited to partner with a world-class firm having international experience spanning for more than 40 years in carbon sequestration, underground storage and enhanced oil recovery projects. This is an important step to realize the vision of Crown Prince Mohammed bin Salman ‘that the world needs to go much further and faster in combating climate change.’ The alliance with ARI will position TAQA at the forefront of realizing this vision and is very well in line with TAQA 2021 strategy.”
Vello A. Kuuskraa, ARI president, said: “We are most pleased to partner with TAQA, a
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