“There is an expectation that there will be 2 more phases by the end of the third phase when it gets completed, this could well be the world's largest CCS project at 54 million or 53 million tonnes per annum of CO2 being captured and sequester.”

In context

“pe and structure of your investment in the project? How large is the investment? And do you see this project being foundational in nature in that it could turn into a base hub for additional follow-on investments with the goal of increasing regional asset density? Sanjiv Lamba: Thanks, Matt. So essentially, I'm going to give you a high-level view of the project. It hasn't gone to FID when it does, you will hear us talk a bit more about it. But essentially, it's a 3-way joint venture that is developing, which will be in its first phase, a very large CCS project in Saudi. The 3 partners are led by Saudi Aramco, SRB and Linde. Each kind of contributing their skill set into that project. The first phase of the project is between 9 million to 11 million tonnes per annum of CO2 being sequester. There is an expectation that there will be 2 more phases by the end of the third phase when it gets completed, this could well be the world's largest CCS project at 54 million or 53 million tonnes per annum of CO2 being captured and sequester. So yes, there is potential for growth beyond. Obviously, we will assess those phases when they happen. At this point in time, this joint venture structure is developing the project. The feed has been completed. The capital is being assessed as we speak. So I'm not going to give you a firm number just yet. I expect FID in the next few months. And once that happens, you'll get a lot more detail around it. But it is a fairly significant project with some exceptional partners in a part of the world where Linde will strengthen its position. And obviously, there will be a future opportunity to continue to grow with this. Alongside this project, we will also look at developing a blue hydrogen project, which was leverage the CCS infrastructure that has been developed in this project. But again, w”