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Abu Dhabi National Oil Company (ADNOC) has pledged to invest $15 billion in low-carbon projects to curb operational emissions and meet decarbonization targets.
United Arab Emirates oil and gas major unveils its multi-year action plan, allocating $15 billion Support various low-carbon projects across its diversified value chain by the end of the decade.
UAE has committed $165 billion Transition to clean energy.this is first persian gulf state The goal is to achieve net zero emissions by 2050.
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, said:
“Consolidating our strong track record in responsible and reliable energy production, ADNOC will accelerate major investments in landmark clean energy, low-carbon and decarbonization technology projects. As we continue to future-proof our business, we We invite technology and industry leaders to collaborate with us to drive real and meaningful action towards the energy transition.”
ADNOC Decarbonization Target
As part of its sustainable development goals, ADNOC plans to reduce its carbon intensity 25% by 2030. This will cement its position as one of the world’s least carbon-intensive oil and gas companies.
- ADNOC ranks in the top 5 in the oil and gas industry. It also has one of the lowest methane intensities (0.01%).
The Emirati giant emphasized that its decarbonization goals build on its “proven track record as a leading low-carbon-intensity energy producer”. This record includes the following actions:
- use a zero-carbon grid,
- Committing to zero burn as part of daily operations, and
- Deployed the UAE’s first large-scale carbon capture project – Al Reyadah.
Middle Eastern oil and gas companies are investing billions of dollars to expand their hydrocarbon production capabilities. But they are also preparing to invest heavily in energy transition initiatives such as hydrogen and carbon capture and storage (CCS) projects.
$15 billion project
ADNOC said that by 2023, it would unveil a series of new projects and initiatives to decarbonize operations. The firm’s $15 billion investment includes:
- Pioneering CCS project
- innovative Carbon removal technology
- New clean energy solutions (hydrogen and renewable energy)
- Further electrification of operations
- Measures to Establish a Zero Conventional Natural Gas Flaring Policy
- strengthen international partnerships
The energy company also said it would apply “rigorous commercial and sustainability assessments to ensure each project has a lasting, tangible impact”.
In December last year, ADNOC established aLow carbon solutions and international growth“. This is in line with its goal of achieving net zero Scope 1 and 2 emissions by 2050.
The new business will focus on CCS, renewable energy and clean hydrogen. It will also help the company expand internationally in natural gas, liquefied natural gas and chemicals.
CCS expansion plans in the UAE
Based on its Al Reyadah facility, it can capture up to 800,000 tons of carbon dioxide Each year, ADNOC also plans to deploy technologies to capture, store and absorb carbon dioxide.
The company is also committed to its next major decarbonisation investment, curbing emissions at its Habshan gas processing facility.
As ADNOC plans to expand its CCS capabilities to 5 million tons By 2030, the UAE will be “firmly established as a global center for carbon capture technology and innovation,” the company said.
- This CCS extension represents the 500% Improve the company’s carbon capture capacity.
ADNOC added that the program aims to support the scale-up of hydrogen and low-carbon ammonia production in Abu Dhabi. They even plan to expand the blue ammonia capacity of their Taziz plant to 1 million tons per year.
The UAE’s major energy company also confirmed that it had delivered test cargoes of low-carbon ammonia to Europe and Asia.
The company will expand its new energy portfolio through its stake in Masdar, a clean energy power station in the region. Masdar is leading UAE’s global growth, says ADNOC green hydrogen.
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