Oil & Gas

In a significant move towards sustainable aviation, Aramco, TotalEnergies, and the Saudi Investment Recycling Company (SIRC) have announced the signing of a Joint Development and Cost Sharing Agreement (JDCSA) during the visit of French President Emmanuel Macron to Saudi Arabia. This collaboration aims to develop a Sustainable Aviation Fuel (SAF) production unit in the Kingdom. The project will utilize local residues from the circular economy, such as used cooking oil and animal fats, transforming them into high-value sustainable aviation fuel. The agreement was made in the presence of His Royal Highness Prince Abdulaziz bin Salman Al Saud, Saudi Arabia's Minister of Energy, underlining the importance of this initiative for the Kingdom.

The partnership between Aramco, TotalEnergies, and SIRC combines the expertise of three industry giants to address the growing need for lower-carbon alternatives in aviation. With air travel demand set to rise, reducing aviation emissions is a critical global challenge. Amin H. Nasser, President & CEO of Aramco, emphasized the necessity for such sustainable solutions, noting that this collaboration exemplifies how global energy companies can play a role in the decarbonization of the aviation sector. He highlighted the potential benefits this project could bring to both domestic and international airlines, particularly as Saudi Arabia's aviation and tourism sectors continue to expand.

TotalEnergies' Chairman and CEO, Patrick Pouyanné, expressed his enthusiasm about the partnership, stressing that SAF is central to their strategy for reducing the aviation sector's carbon footprint. He pointed out that this initiative aligns with Saudi Arabia's Green Initiative and Vision 2030, which focus on environmental sustainability and the diversification of the Kingdom's energy landscape. The SAF production project not only aims to support the decarbonization of air transport but also contributes to Saudi Arabia's broader goal of achieving a sustainable, low-carbon future.

For SIRC, the collaboration represents a major step forward in the Kingdom's efforts to enhance its circular economy. Eng. Ziad Al-Sheha, CEO of SIRC, highlighted the importance of converting waste into renewable resources and the role of this partnership in furthering Saudi Arabia's sustainability goals. This initiative also strengthens SIRC's commitment to supporting Vision 2030 and the Saudi Green Initiative by fostering the development of sustainable solutions that benefit both the environment and the economy. The collaboration signifies a strategic move towards creating a more sustainable future for Saudi Arabia, with a focus on renewable energy and resource efficiency.