PARIS - In a significant move towards sustainable aviation, Aramco (TADAWUL:2222), TotalEnergies (EPA:TTEF) (Paris:TTE) (LSE:TTE) (NYSE:TTE), and the Saudi Investment Recycling Company (SIRC) have signed an agreement to evaluate the establishment of a sustainable aviation fuel (SAF) production facility in Saudi Arabia. This initiative aligns with the Kingdom (TADAWUL:4280)'s environmental goals as part of its Vision 2030 and the Saudi Green Initiative.
The collaboration aims to leverage the expertise of the three entities to develop an SAF production unit that utilizes local circular economy residues, such as used cooking oil and animal fats. Amin H. Nasser, President & CEO of Aramco, emphasized the importance of addressing aviation emissions with lower-carbon alternatives and the role global energy companies can play in this transition.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, expressed enthusiasm for the partnership and its potential to contribute to the decarbonization of air transport. He highlighted SAF as a central element of TotalEnergies' transition strategy and the project's alignment with Saudi Arabia's energy transition efforts.
Eng. Ziad Al-Sheha, CEO of SIRC, underscored the project's significance in advancing the Kingdom's circular economy and fulfilling the sustainability objectives of Vision 2030.
TotalEnergies is a global multi-energy company committed to providing clean energy, while Aramco is a leading integrated energy and chemicals company focused on creating sustainable and dependable energy sources. SIRC, a subsidiary of the Public Investment Fund (PIF), plays a pivotal role in developing Saudi Arabia's waste management sector to achieve high recycling rates by 2035.
This announcement is based on a press release statement and represents a step forward in the global effort to reduce the carbon footprint of the aviation industry.
