SLB is expanding in CCS
SLB buys majority of Aker Carbon Capture for $380m
US company aims to accelerate deployment of new technologies offered by Norwegian pureplay CCS firm
Global energy technology major SLB has agreed to buy 80% of Norway’s Aker Carbon Capture for NOK4.12b ($380m) in a deal designed to accelerate the scale-up of new CCS technologies to bring down costs. The deal is one of the most significant in the CCS technology sector in recent years and could trigger further consolidation as competition for large industrial projects intensifies. Deployment of CCS and CCUS technology is accelerating, especially in the US market where the Inflation Reduction Act has further enhanced the existing 45Q tax credit regime. However, high costs continue to hamper investment in many cases. “For CCUS to have the expected impact on supporting global net-zero ambitions
Also in this section
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions
13 January 2025
The region’s fast-growing economies stand at a pivotal juncture, with the opportunity to drive a sustainable growth strategy that will keep the world’s net-zero ambitions alive
10 January 2025
Global energy demand keeps rising, and digital technology will play a crucial role in both meeting that demand and doing so in a sustainable way
