Expanding partnerships with U.S. suppliers furthers clean energy initiatives

A recent webinar by Aramco Americas' Supply Chain Management Department in coordination with the U.S. Chamber of Commerce looks to expand  business connections in alignment with the company's sustainability priorities.

The two-hour webinar “Doing Business With Aramco: Sustainability and Circular Carbon Economy” highlighted Aramco's growth strategy related to nonmetallics, carbon fiber manufacturing, and other innovative solutions.

“This event allowed us to connect with prospective suppliers who exemplify innovation and are interested in new opportunities in the Kingdom,” said Nabeel I. AlAfaleg, President & CEO, Aramco Americas.  “It was the latest in a series of virtual supplier forums we have held with the Chamber, as we progress key initiatives despite obstacles posed by the pandemic.”

The webinar closely follows Aramco's support for the Saudi Green Initiative, a national initiative that charts the path forward for Saudi Arabia to combat climate change.  Under this initiative, governmental bodies, companies, and other organizations are working together on emissions reduction and environmental protection plus developing potential technologies that contribute to the energy transition.

Aramco Americas supports the company's global initiatives not only through supply chain management but also research and development and venture capital funds dedicated to finding the latest and most innovative approaches to Industry 4.0 technologies, renewables, and energy efficiency.

Joining the online conversation were representatives from the U.S. Chamber of Commerce including Dan Brouillette, President, Sempra Infrastructure and former U.S. Secretary of Energy and co-chair of the U.S. Chamber of Commerce's U.S.-Saudi Arabian Business Program.

“Aramco is a very dynamic company to do business with,” said Brouilette.  “The company has a commitment to excellence with a strategic view and sees the opportunities with decarbonization.”

Deep dives into subjects such as carbon capture and storage, venture capital investments in sustainability, nonmetallics, and the societal and economic benefits of a circular carbon economy (reduce, reuse, recycle, and remove) were discussed by science and technical experts such as Dr. Julio Friedmann, Senior Research Scholar, Center on Global Energy Policy at Columbia University and Sibendu Som, Section Manager, Multi-Physics Computation, Energy Systems Division, Argonne National Laboratory.

Aramco leadership and professionals joined the conversations to offer insights into company programs such as the In Kingdom Total Value Add (IKTVA) and the Industrial Investment program (Namaat) that, in September, underwent a major expansion which included the signing of 22 new Memorandum of Understandings (MOUs) and one joint venture (JV) agreement focusing on capacity building in four key sectors:  sustainability, technology, industrial and energy services, and advanced materials.  

“Since the launch of IKTVA we have engaged with major suppliers as well as small to medium businesses and investors to serve the region and the world,” said Adel Al-Shahrani, Manager, Procurement & Supply Chain Management, Aramco Americas.  “We are driving the execution of more than 100 action plans to develop in-Kingdom ecosystems to support localization and workforce development.”

Husam Sendi, Manager, Industrial Investments Program, updated participants on the progress of Namaat, noting 38 investments with 55 MOUs have been signed to date.  He cited the advancement of 3D printing, cloud and digital services, an integrated waste management program, offshore fabrication, energy storage and nonmetallic auto parts manufacturing.    

Scouring the market to find companies to invest in that deliver strategic value to Aramco, Jim Sledzik, Managing Director, Saudi Aramco Energy Ventures (SAEV) in the U.S., observed digital, IR 4.0 technologies and sustainability are hot sectors for investing.  

There are many opportunities across several platforms for suppliers and investors to partner with Aramco, particularly in new and rapidly growing industries of the 21st century.

“Now, there are further ways to expand your relationship with us and grow as our industry leads the hunt for solutions to some of the world's greatest challenges---with climate change a top priority,” said AlAfaleg.