03-03-2022

Técnicas Reunidas and Axens agreement to develop carbon capture and storage projects

Técnicas Reunidas and Axens have signed a collaboration agreement to jointly promote carbon capture projects and provide integrated solutions from the concept to the handover of the project, based on Axens technologies.

The two companies will work together to accelerate the transition to a zero-emission future by helping companies in energy-intensive industrial sectors, such as the chemical, steel, cement and paper industries, to reduce carbon emissions from their assets.

Axens, a company of French Group IFP Energies nouvelles (IFPEN), is a worldwide group providing a complete range of solutions for the conversion of oil and biomass to cleaner fuels, the production and purification of major petrochemical intermediates, the chemical recycling of plastics and all natural gas treatment and conversion options, also specialized in Carbon Capture. Técnicas Reunidas is a leading international engineering company with proven experience in the implementation of the most advanced technologies and in the execution of EPC (Engineering, Procurement and Construction) contracts.

About Carbon Capture and Storage
Carbon Capture and Storage (CCS), is an emissions reduction technology that involves the capture of Carbon Dioxide (CO2) from fuel combustion or industrial processes, the transport of this CO2 via ship or pipeline, and its permanent storage.

CCS is one of the unavoidable technological solutions needed to approach the goal of net-zero emissions, according to the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA). The global capture capacity was about 40 MtCO2 per year in 2021. The ongoing pipeline of projects forecasts 220 MtCO2 per year of global capture capacity in 2030, a huge gap compared with the targets set in the IEA’s Sustainable Development Scenario (SDS): around 900 MtCO2 per year by 2030 and around 5,400 MtCO2 by 2050.

When signing of the agreement, Rachid Chennit, Low Carbon Solutions & Gas Product Line Director at Axens, and Axens Executive Vice President New Development & Transformation Patrick Sarrazin, declared that "this partnership with Técnicas Reunidas will allow us to address a broad carbon capture and removal solutions essential for the decarbonization of our industries and a low-carbon society ".

In turn, Ricardo Sánchez Galindo, Marketing and Business Development Director of Técnicas Reunidas, stressed that this agreement "highlights the indispensable contribution that companies specializing in industrial engineering can and must make, especially through collaboration agreements, to decarbonization and the energy transition".