Larsen & Toubro secures $1.5 billion contract for Saudi Aramco’s carbon capture project: report
25 Feb 2025
Larsen & Toubro Ltd is reported to have secured a $1.5 billion contract from Saudi Aramco for construction of the first phase of its Carbon Capture and Storage (CCS) project.
Under the engineering, procurement, and construction (EPC) contract, Larsen & Toubro's Energy Hydrocarbon (LTEH) division will carry out construction of the first phase of the main contract for its ambitious CCS hub, say reports.
The contract is part of Aramco's Accelerated Carbon Capture & Sequestration (ACCS) initiative for reducing the company’s carbon emissions and enhancing its carbon capture and storage capacity.
The CCS project is being implemented by Aramco in collaboration with Linde and SLB, with Aramco holding 60 per cent interest in the project and Linde and SLB holding 20 per cent each.
When completed, Aramco’s Carbon Capture and Storage (CCS) hub in Jubail will be one of the largest globally.
With the completion of the first phase of construction, expected in 2027, the hub will have a capacity to capture and store up to 9 million metric tonnes of CO2 per year, which will be a milestone, which will set the company in a position to achieve its 2035 interim climate target of reducing emissions by 15 per cent.
Aramco hopes to achieve net-zero and Scope 2 gas emissions across its wholly-owned and operated assets by 2050.
