Saudi Aramco inks hydrogen agreement as Bezos, Musk and Blair address B20 gathering

Saudi Aramco inks hydrogen agreement as Bezos, Musk and Blair address B20 gathering

RIYADH: Oil giant Saudi Aramco used the gathering of business leaders ahead of the Group of Twenty summit of world leaders to sign an agreement with Indonesia’s energy firm Pertamina to explore collaboration across the hydrogen and ammonia value chain. The memorandum of understanding was inked on the sidelines of the so-called B20 summit in Bali, Indonesia, as both Saudi Arabia and the host nation eye achieving the net-zero target by 2060. The MoU involves a pre-feasibility study that aims to assess the possibility of cooperation related to the development of a clean ammonia and hydrogen value chain. The understanding also includes potential carbon capture, utilization and storage at Pertamina Group’s existing facilities and other agreed potential locations. The pre-feasibility study, which will be conducted over the next two years, will also explore the investment viability of developing commercial structures for clean ammonia and hydrogen in Indonesia. “As a company, our ambition is to achieve net-zero scope 1 and 2 greenhouse gas emissions across our wholly-owned operating assets by 2050,” said Aramco's senior vice president of Downstream Mohammed Al-Qahtani. Saudi Aramco had pledged to achieve the net-zero targets by 2050, 10 years ahead of the Kingdom’s net-zero goal. Al-Qahtani added: