Schlumberger, Linde To Collaborate on Carbon Capture Projects

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Schlumberger (NYSE:SLB) and Linde (NYSE:LIN) unveiled a strategic collaboration Monday on carbon capture, utilization and sequestration projects to accelerate decarbonization solutions across industrial and energy sectors, although no specific plans are revealed, reports Seeking Alpha.

Partnership

The companies said their partnership will focus on hydrogen and ammonia production, where carbon dioxide is a by-product, and in natural gas processing; CCUS abates the emissions from these energy-intensive industries, creating new low-carbon energy sources and products.

“With SLB, we are able to offer technology-driven solutions – from execution of complex EPC projects through to ensuring reliable and safe long-term storage,” Linde (LIN) CEO Sanjiv Lamba said.

Schlumberger (SLB) shares are technically overbought and it may be time to take some profits off the table, Fun Trading writes in an analysis published recently on Seeking Alpha.

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Source: Seeking Alpha

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