Our Energy Transition Strategy is fully aligned with the Kingdom of Saudi Arabia’s Green Initiative, which focuses on increasing reliance on clean energy, offsetting emissions, and protecting the environment. As part of transitioning into a Sustainable Future, TAQA will leverage energy transition opportunities and address climate change risks. Apart from working consistently to reduce our carbon footprint to achieve Net Zero emissions by 2060, we will lead the way in Geothermal Energy Exploration and Carbon Capture, Usage and Storage (CCUS).
Climate change is the biggest single challenge of this century across all economic sectors. Given that oil and gas will remain, for years to come, a primary source of energy, all actions to reduce carbon emissions within our industry must involve collaboration with technologies, partnerships, and enhanced practices.
The CCUS value chain includes three stages; Carbon capture, Transport and Storage. TAQA possesses capabilities to serve the Storage element of the value chain, namely Geosciences, Drilling and Well Services. To complement these capabilities, TAQA has established strategic alliances with world-class partners with international experience spanning more than 40 years in Carbon Sequestration, Underground Storage and EOR projects to develop CCUS opportunities in the region and play a pivotal role in the development of this market.
TAQA has served the Geothermal energy industry by delivering drilling services primarily in Turkey and establishing a Geothermal Center of Excellence to capture the knowledge and best practices for transfer to the region. TAQA is working with key stakeholders in the kingdom to drive the development of this market
The TAQA Carbon Footprint Management element of our Energy Transition journey establishes a robust, internationally approved, referenced emissions measurement protocol developed into a company standard. The CO2 emissions from Scope 1 and Scope 2 sources are quantified, reported and recorded into our corporate management system portal (SCORE) to allow monitoring and abatement plans generation.