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Adnoc, a reliable and responsible supplier of low carbon intensity energy, has announced a bold new strategy to advance the decarbonisation of its operations around the world.
This follows guidance from Adnoc’s board in November last year to accelerate the implementation of its low-carbon growth strategy and approve its net-zero target by 2050.
This builds on Adnoc’s strong track record as a leading low-carbon-intensity energy producer, which includes access to a zero-carbon grid, a commitment to zero-flaring as part of day-to-day operations and the deployment of the region’s first large-scale carbon capture project, the report said .
Based on the board’s guidance, Adnoc has allocated US$15 billion (AED55 billion) through 2030 to advance a number of projects across its diverse value chain.
These projects will include investments in clean energy, carbon capture and storage (CCS), further electrification of its operations, energy efficiency and new measures to establish Adnoc’s long-term policy of zero conventional gas flaring.
Adnoc said it would conduct rigorous commercial and sustainability assessments to ensure each project had a lasting, tangible impact.
Throughout 2023, a host of new projects and initiatives will be announced, including the first CCS projects, innovative carbon removal technologies, investments in new clean energy solutions and strengthened international partnerships.
Together with the recently established Adnoc’s new Low Carbon Solutions and International Growth Council, these represent concrete actions for the company to reduce its carbon intensity by 25% by 2030 and move towards its 2050 net zero target, it said.
Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Adnoc Managing Director and Group CEO, said Adnoc continues to take significant steps to make energy cleaner today while investing in clean energy and new technologies for tomorrow.
“Now more than ever, the world needs a practical and responsible approach to the energy transition that is both good for growth and good for the climate, and Adnoc is taking concrete action to support both goals,” he added.
Al Jaber said Adnoc will accelerate major investments in landmark clean energy, low carbon and decarbonization technology projects.
“As we continue to grow our business for the future, we invite technology and industry leaders to partner with us to drive real and meaningful action, including the energy transition. This multi-billion dollar strategic move highlights Adnoc as industry leader as the world’s leading provider of low-carbon energy,” he noted.
Building on Adnoc’s Al Reyadah facility, which can capture up to 800,000 tonnes of CO2 per year, the company will announce plans to deploy technology to capture, store and absorb CO2 using the UAE’s geology while preparing for its next major investment. added to capture emissions from its Habshan gas processing facility.
Combined with Adnoc’s plans to expand its carbon capture capacity to 5 million tonnes per annum (mtpa) by 2030, the UAE will firmly position itself as a global hub of carbon capture expertise and innovation.
Adnoc plans to expand CCS to support a significant expansion of hydrogen and low carbon ammonia production capacity in Abu Dhabi.
To date, Adnoc has delivered test cargoes of low carbon ammonia to Europe and Asia.
Adnoc’s expansion of its new energy portfolio will be primarily achieved through its stake in the UAE’s clean energy powerhouse Masdar, which currently has more than 20 gigawatts (GW) of clean energy and plans to increase its capacity to 100 GW per year. Masdar is also spearheading the UAE’s efforts to take the lead in green hydrogen.
Since January 2022, Adnoc has received 100% of its grid power from nuclear and solar from the Emirates Water and Electricity Corporation (EWEC), making it the first major company in the industry to decarbonize at scale through a Clean Power Agreement.
Adnoc also struck a $3.8 billion deal to build the first-of-its-kind subsea transmission network in the MENA region, linking Adnoc’s offshore operations to onshore power networks, potentially reducing Adnoc’s offshore carbon footprint Reduced by up to 50%.
It added that, based on billions of dollars in capital investment in decarbonisation projects, Adnoc is working closely with its international partners and stakeholders across the energy value chain on technology, best practice and policy to support and Advance global decarbonization efforts.-TradeArabia News Service
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