Aramco, TotalEnergies and Saudi Investment Recycling Company (SIRC) Assess the Development of a Sustainable Aviation Fuels Unit
04 December 2024 - 1:42AM
Business Wire
Regulatory News:
On the occasion of the visit of the President of the French
Republic Emmanuel Macron to the Kingdom of Saudi Arabia, and in the
presence of His Royal Highness Prince Abdulaziz bin Salman Al Saud,
Saudi Minister of Energy, Aramco, TotalEnergies (Paris:TTE)
(LSE:TTE) (NYSE:TTE), and Saudi Investment Recycling Company
(SIRC), the major player which collects and valorizes organic
materials into sustainable products in Saudi Arabia, announced
today the signing of a Joint Development and Cost Sharing Agreement
(JDCSA) to assess the development of a sustainable aviation fuels
(SAF) production unit in the Kingdom of Saudi Arabia.
This collaboration will draw on the expertise of the three
partners to develop a production unit of sustainable aviation fuel
by converting local residues from the circular economy, such as
used cooking oil and animal fats.
Amin H. Nasser, Aramco President & CEO, said “With
demand for air travel forecast to grow, it’s becoming imperative to
address aviation emissions through lower-carbon alternatives such
as sustainable aviation fuels. This is where major global energy
companies like Aramco and TotalEnergies can play a part, by
collaborating to help meet this need. Addressing transport
emissions requires a wide range of approaches and Aramco is
pursuing a number of potential innovative solutions, as we seek
opportunities to make an impact. We already have a well-established
partnership with TotalEnergies and this new collaboration
demonstrates our intent to explore ways to leverage our combined
strengths, in this case with a view to establishing a sustainable
aviation fuels plant in the Kingdom with SIRC. As Saudi Arabia’s
tourism and aviation sectors expand, this could potentially benefit
both domestic and international airlines.”
Patrick Pouyanné, Chairman and Chief Executive Officer of
TotalEnergies, said: “We are delighted to partnering with
Aramco and SIRC to study the production of sustainable aviation
fuels in the Kingdom. By leveraging our collective expertise, we
can take a further step towards the decarbonization of air
transport together. SAF is at the heart of our company's transition
strategy, as we strive to meet the aviation industry's demand to
reduce its carbon footprint. Saudi Arabia is emblematic of our
multi-energy strategy aimed at supporting the energy transition of
oil and gas producing countries. This SAF production project
contributes to the country's Green Initiative and Vision 2030’s
objectives.”
Eng. Ziad Al-Sheha, Chief Executive Officer of SIRC,
said: “In keeping with our commitment to supporting the ambitious
sustainability objectives of Vision 2030 and the Saudi Green
Initiative, we have a keen focus on increasing waste conversion
rates into renewable resources. The new partnership with Aramco and
TotalEnergies to assess the feasibility of a renewable aviation
fuels plant signifies a major leap forward in our mission. We also
believe it will enrich and energize our efforts to lead the
development of the Kingdom’s circular economy.”
***
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to supplying
affordable, reliable, clean energy to as many people as possible.
TotalEnergies intends to put sustainability, in all its dimensions,
at the center of its strategy, projects and operations.
@TotalEnergies TotalEnergies TotalEnergies
TotalEnergies
About Aramco: Aramco is a global integrated energy and
chemicals company. We are driven by the core belief that energy is
opportunity. From producing approximately one in every eight
barrels of the world’s oil supply to developing new energy
technologies, our global team is dedicated to creating impact in
all that we do. We focus on making our resources more dependable,
more sustainable and more useful. This helps promote stability and
long-term growth around the world. www.aramco.com
About SIRC: The Saudi Investment Recycling Company
(SIRC), a wholly owned subsidiary of the Public Investment Fund
(PIF), was established in 2017 to lead Saudi Arabia’s circular
economy for a sustainable future. The company invests in the
development of the local waste management sector and is striving to
boost the Kingdom’s capabilities to meet its objective of raising
total municipal solid waste recycling operations to 81% by 2035.
For more information, visit: www.sirc.sa
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