INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Saudi scientists testing a new technique to freeze carbon emissions

    • New testing is about half the cost of existing carbon capture techniques

    • The cryogenic technology hopes to capture up to 25 tons a day from a power plant

    A pioneering technique is being tested by a team of scientists at Jeddah-based King Abdullah University of Science and Technology for freezing greenhouse-gas emissions from power plants that is about half the cost of existing carbon capture techniques.

    The cryogenic technology was developed by Sustainable Energy Solutions, a private company based in Salt Lake City, Utah, in the US and may cost between $35 and $40 a ton on a large scale, said William Roberts, a professor at the university.

    Within two years, according to Bloomberg, the team hopes to capture up to 25 tons a day from a power plant near the new city of Neom, Roberts said. The project will cost around $25 million.

    “We think the energy costs are low, the footprint is small and the capex is reasonably small,” he said. “Efficiency gets better as the scale goes up.”

    Saudi Arabia is exploring a number of carbon capture, storage and reuse technologies. Aramco is capturing 40 million standard cubic feet of CO2 a day at its Hawiyah Gas Plant, which it then pipes 85 km to the Uthmaniyah oil field to be injected into the reservoir for storage and enhanced oil recovery.

    Aramco is also working on technology that captures carbon emissions from car exhausts and stores it until it can be offloaded at fuel stations.