Saudi Aramco, OGCI members to invest in low-emission technologies

Saudi Aramco, along with members of the Oil and Gas Climate Initiative (OGCI), will invest in promising low-emission technologies, implemented by OGCI Climate Investments, the investment arm of OGCI, the oil giant said in a statement.

The value of the investment was not disclosed.

“Saudi Aramco is committed to reducing greenhouse gas (GHG) emissions by focusing our research, development and funding on high impact technologies that reduce cost and create significant environmental advantages,” Aramco’s President and Chief Executive Amin Al-Nasser said at the third annual meeting of the OGCI in London.

“The investments with Solidia Technologies, Achates Power and the first commercial carbon capture, use and storage (CCUS) gas plant are a testimony to OGCI’s determination in tackling climate change through  technology-enabled solutions that align with Saudi Aramco’s key priorities of reducing GHG emissions in the energy sector,” the joint statement added.