SLB and Linde Collaborate on Carbon Capture and Sequestration

SLB (NYSE: SLB) and Linde (NYSE: LIN; FWB: LIN) introduced as we speak that they’ve entered right into a strategic collaboration on carbon seize, utilization and sequestration (CCUS) tasks to speed up decarbonization options throughout industrial and vitality sectors. The collaboration will mix many years of expertise in carbon dioxide (CO₂) seize and sequestration; modern know-how portfolios; challenge growth and execution experience; and engineering, procurement, and development (EPC) capabilities.

CO₂ is discovered or produced in lots of industrial and vitality purposes. This collaboration will focus on hydrogen and ammonia manufacturing, the place CO₂ is a by-product, and in pure gasoline processing. CCUS abates the emissions from these energy-intensive industries, creating new low-carbon vitality sources and merchandise. The International Energy Agency (IEA) estimates¹ that over 6Gt of CO₂ per yr will must be abated with CCUS with a view to attain web zero by 2050.

“CCUS is vital in creating the decarbonized energy systems our planet needs to balance energy demand with climate objectives,” stated Olivier Le Peuch, chief government officer, SLB. “We are excited about this collaboration with Linde to develop CCUS projects and support the growth of low-carbon energy products from conventional energy sources.”

“Carbon capture and storage will be a key lever for tackling global warming,” stated Sanjiv Lamba, chief government officer, Linde. “We are committed to helping customers decarbonize their operations in a cost-effective way. With SLB, we are able to offer technology-driven solutions—from execution of complex EPC projects through to ensuring reliable and safe long-term storage.”

SLB and Linde have been working on decarbonization alternatives for over a yr already. Using their international footprint throughout a number of sectors and industries, the collaboration will develop buyer attain and will focus on designing business and working fashions that maximize worth for all stakeholders.

About SLB

SLB (NYSE: SLB) is a worldwide know-how firm that drives vitality innovation for a balanced planet. With a worldwide footprint in additional than 100 nations and workers representing nearly twice as many nationalities, we work every day to decarbonize oil and gasoline and develop scalable new vitality applied sciences to speed up the vitality transition. Find out extra at slb.com.

About Linde

Linde is a number one international industrial gases and engineering firm with 2021 gross sales of $31 billion (€26 billion). We reside our mission of constructing our world extra productive daily by offering high-quality options, applied sciences and providers that are making our prospects extra profitable and serving to to maintain and defend our planet.

The firm serves quite a lot of finish markets together with chemical compounds & vitality, meals & beverage, electronics, healthcare, manufacturing, metals and mining. Linde’s industrial gases are utilized in numerous purposes, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clear fuels and rather more. Linde additionally delivers state-of-the-art gasoline processing options to help buyer enlargement, effectivity enhancements and emissions reductions.

For extra details about the corporate and its merchandise and providers, please go to www.linde.com.

¹ IEA (2022), World Energy Outlook 2022 IEA, Paris https://www.iea.org/reports/world-energy-outlook-2022

Cautionary Statement Regarding Forward-Looking Statements

This press launch incorporates “forward-looking statements” inside the that means of the U.S. federal securities legal guidelines — that’s, statements in regards to the future, not about previous occasions. Such statements typically comprise phrases akin to “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected” and different related phrases. Forward-looking statements tackle issues which are, to various levels, unsure, akin to forecasts or expectations relating to the deployment of, or anticipated advantages of, carbon seize applied sciences and partnerships; statements about targets, plans and projections with respect to sustainability and environmental issues; forecasts or expectations relating to vitality transition and international local weather change; and enhancements in working procedures and know-how. These statements are topic to dangers and uncertainties, together with, however not restricted to, the shortcoming to realize net-negative carbon emissions targets; the shortcoming to acknowledge supposed advantages of carbon seize methods, initiatives or partnerships; legislative and regulatory initiatives addressing environmental considerations, together with initiatives addressing the impression of worldwide local weather change; the timing or receipt of regulatory approvals and permits; and different dangers and uncertainties detailed within the corporations’ public filings, together with SLB’s most up-to-date Forms 10-Ok, 10-Q and 8-Ok filed with or furnished to the U.S. Securities and Exchange Commission. If a number of of those or different dangers or uncertainties materialize (or the results of such a growth modifications), or ought to underlying assumptions show incorrect, precise outcomes might range materially from these mirrored in our forward-looking statements. The forward-looking statements converse solely as of the date of this press launch, the events disclaim any intention or obligation to replace publicly or revise such statements, whether or not because of new data, future occasions or in any other case.

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