Seoul: Samsung C and T Corp., the construction arm of Samsung Group, has announced its successful bid for a significant carbon capture and storage project in Qatar, valued at 1.9 trillion won (US$1.13 billion).
According to Yonhap News Agency, Samsung C and T disclosed in a regulatory filing that it received a letter of award from QatarEnergy LNG to develop the project. The endeavor involves constructing a carbon capture facility at QatarEnergy's liquefied natural gas (LNG) production complex located in Ras Laffan Industrial City, approximately 80 kilometers north of Doha, with a completion target of 2030.
The facility aims to capture around 4.1 million tons of carbon dioxide (CO2) each year. The captured CO2 will then be compressed and transported through pipelines for underground storage. Samsung C and T plans to utilize its expertise in LNG projects and collaborate with local partners to execute the project efficiently.
This latest contract is part of Samsung C and T's ongoing success in Qatar, following a 4 trillion-won power plant construction project secured last year.