This cooperation between Petro Rabigh and Gulf Cryo is aligned with their shared ambition to capture CO2 emissions with the goal of reducing CO2 emissions by up to 2 million tons per year by 2042.
This collaboration aims at capturing CO2 emissions from MEG Plant which is located at Rabigh Petrochemical cluster in Saudi Arabia and has a capacity of 600,000 metric tonnes per year.
This agreement, which was signed by Amer Al Huneidi Gulf Cryo Chairman, and Othman Al Ghamdi, Petro Rabigh President and CEO, will establish a new strategic collaboration reinforcing the commitment of both businesses towards enhancing local content and securing a resilient supply chain and a sustainable business environment.
In line with Petro Rabigh’s commitment on reducing emissions, and to support with the objectives outlined by the Kingdom’s Vision 2030, Gulf Cryo will build and operate a state-of-the-art CO2 capturing plant.
The plant is expected to be fully operative by Q2 2023 and will be the first CO2 capturing plant in the Western Region of Saudi Arabia.
Part of the total captured and highly-purified food grade gas, with a standard volume of 100,000 metric tonnes per year, will be supplied via pipelines for internal processes of Petro Rabigh, and the majority remaining will be supplied in liquid form to industrial end-users.
This process will replace fossil fuel burning plants and contribute to an environment-friendly economy.
Gulf Cryo’s is leading the strategic initiative of decarbonization through capturing and purifying industrial carbon emissions.
Its comprehensive knowledge and proven operational excellence plays a key role in producing and supplying on-site industrial gases.
The captured and purified emissions in return are utilized as a valuable resource for food grade innovative gas applications in the oil and gas, desalination, food and beverage, cement and agriculture industries.
“We are proud to support Petro Rabigh’s initiative of reducing emissions in the Kingdom of Saudi Arabia,” said Georgios Beretsos, Chief Commercial Officer at Gulf Cryo.
“This collaboration signifies our commitment to being a key part in the supply chain development and sustainability, and it illustrates Gulf Cryo’s ability to meet the stringent requirements of any industry wherever the company operates,” he said.