Published by Todd Bush on October 31, 2022
HOUSTON--(BUSINESS WIRE)--SLB (NYSE: SLB) and Linde (NYSE: LIN; FWB: LIN) announced today that they have entered into a strategic collaboration on carbon capture, utilization and sequestration (CCUS) projects to accelerate decarbonization solutions across industrial and energy sectors. The collaboration will combine decades of experience in carbon dioxide (CO2) capture and sequestration; innovative technology portfolios; project development and execution expertise; and engineering, procurement, and construction (EPC) capabilities.
>> In Other News: Emerson to Sell Majority Stake in Climate Technologies to Blackstone in Transaction Valuing the Business at $14.0 Billion
CO2 is found or produced in many industrial and energy applications. This collaboration will focus on hydrogen and ammonia production, where CO2 is a by-product, and in natural gas processing. CCUS abates the emissions from these energy-intensive industries, creating new low-carbon energy sources and products. The International Energy Agency (IEA) estimates1 that over 6Gt of CO2 per year will need to be abated with CCUS in order to reach net zero by 2050.
“CCUS is vital in creating the decarbonized energy systems our planet needs to balance energy demand with climate objectives,” said Olivier Le Peuch, chief executive officer, SLB. “We are excited about this collaboration with Linde to develop CCUS projects and support the growth of low-carbon energy products from conventional energy sources.”
“Carbon capture and storage will be a key lever for tackling global warming,” said Sanjiv Lamba, chief executive officer, Linde. “We are committed to helping customers decarbonize their operations in a cost-effective way. With SLB, we are able to offer technology-driven solutions—from execution of complex EPC projects through to ensuring reliable and safe long-term storage.”
SLB and Linde have been working on decarbonization opportunities for over a year already. Using their global footprint across multiple sectors and industries, the collaboration will expand customer reach and will focus on designing business and operating models that maximize value for all stakeholders.
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day to decarbonize oil and gas and develop scalable new energy technologies to accelerate the energy transition. Find out more at slb.com.
Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.
The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde’s industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
For more information about the company and its products and services, please visit www.linde.com.
1 IEA (2022), World Energy Outlook 2022 IEA, Paris https://www.iea.org/reports/world-energy-outlook-2022
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 🌍 HIF Global Signs Collaboration Agreement with Airbus for Sustainable Aviation Fuels 🔋 Exxonmobil Signs Carbon Capture Agreement With CF Industries in Mississippi 🚧 After Year...
I've been monitoring the climatetech and decarbonization startups this year, and here’s what I learned. International Energy Agency (IEA) expects global clean energy investment to hit $2 trillion ...
Inside this Issue 🌱 FuelPositive: Completes On-Farm Commissioning of the First Scalable Green Ammonia Production System and Announces New Manitoba-Based Partnerships 🌍 A New Era for Clean Energy: ...
Siemens Energy Wins Contract for Large-scale Hydrogen Project From German Utility EWE
[**Siemens Energy**](https://www.siemens-energy.com/) **has been awarded a contract to supply a 280-megawatt electrolysis system by German utility EWE. The plant in the German city of Emden is expe...
Shell to Build 100-megawatt Renewable Hydrogen Electrolyser in Germany
COLOGNE/WESSELING, GERMANY – [Shell Deutschland GmbH](https://www.shell.de) (**Shell**) has taken a Final Investment Decision (FID) to progress REFHYNE II, a 100-megawatt renewable proton-exchange ...
After Years of Controversy, Illinois State Pauses CO2 Pipeline Construction, for Now
**New safety requirements for carbon dioxide pipelines as well as a temporary ban on their construction are now in effect after Gov. JB Pritzker on Thursday signed a bill that passed the General As...
Exxonmobil Signs Carbon Capture Agreement With CF Industries in Mississippi
* We’ll remove up to 500,000 metric tons of CO2 annually from CF Industries’ site in Yazoo City. * It’s the latest sign of our leadership in CCS, a proven emissions solution. * ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.