Saudi Arabia, which has been synonymous with petroleum, is shifting towards transforming the residue from oil production into more lucrative resources. They are aiming to drastically decrease the degenerative environmental impact in the process.
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Although its economy is largely oil industry dependent, the country has committed to producing 50 per cent of its electricity from renewable sources like natural gas and others as part of its ambitious Vision 2030 goal. Falling in line with the Saudi Green Initiative, it also hopes to reduce CO2 emissions by more than 4 percent of global contributions through diverse initiatives, including the planting of carbon-sinking mangrove forests.
Saudi Arabia is now making investments in carbon capture, utilisation and storage (CCUS) projects that convert carbon dioxide into reusable and commercial products. The country’s national oil company Saudi Aramco, is the pioneer investor in the CCUS projects of the country. It is a 70 per cent stakeholder in Sabic, the petrochemical company that is building the world’s largest carbon capture and processing plants.
Keywords: Low carbon, clean energy, renewable energy, sustainability
Pic credits: pixabay
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