[ad_1]
ADNOC, BP ​​and Masdar agreed to expand the partnership.
Abu Dhabi National Oil Company (Adnoc), BP and Masdar announced the signing of a strategic framework agreement to expand the long-term record of the UAE and the U.K. in bilateral partnerships for sustainable development, including the potential development of the UAE and the UAE Clean Hydrogen Center At least 2 gigawatts (GW) in size.
These agreements underscore the partners’ leadership in technology-driven solutions to global climate challenges and their shared commitment to promote new economic opportunities through decarbonization at home and abroad.
The signing of the framework agreement was held during the official visit to the United Kingdom by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
These agreements were signed by the UAE Minister of Industry and Advanced Technology, Adnoc Managing Director and Group Chief Executive Officer, Masdar Chairman Dr. Sultan Ahmed Al Jaber, and bp CEO Bernard Looney.
Al Jaber said: “The United Kingdom and the UAE have enjoyed decades of strong economic ties. The agreement signed between Adnoc, Masdar and bp will help deepen the strategic relationship between our two countries. We look forward to building on this legacy, Strengthen the ambitions of the two countries to achieve economic growth through low-carbon initiatives. These initiatives will directly contribute to the ’50 Principles’ for the economic blueprint for sustainable growth recently announced by the leaders of the UAE.”
According to the terms of the agreement, Adnoc, bp and Masdar will seek cooperation in the development of clean hydrogen centers in the United Kingdom and the UAE, with an initial scale of 1GW in the UAE and 1GW in the U.K., consolidating the UAE’s position as a major investor in certain areas. One of the largest offshore wind power projects in the UK. The hydrogen agreement is also in line with the UK’s recently announced commitment to achieve 5GW of low-carbon hydrogen by 2030, and the UAE’s nationally determined contribution to reduce greenhouse gas emissions by 23.5% in 2030 compared to usual.
BP CEO Bernard Looney said: “The UK and UAE governments have developed a bold decarbonization plan. The UK is our home and we have been working in the UAE for nearly a century. By having a vision with Adnoc and Masdar With the cooperation of the leaders, we see huge business opportunities that can generate the clean energy the world wants and needs-while revitalizing the local economy and creating future jobs.”
As part of the agreement, Adnoc and bp will also jointly identify potential areas of cooperation in greenfield carbon capture and underground storage and a first-class methane detection platform. In addition, Masdar and bp will jointly explore opportunities to develop, build and operate sustainable energy and mobility solutions in urban population centers.
The partners use the highly complementary infrastructure and resource positions of the United Kingdom and the UAE to create new opportunities for the development of clean hydrogen. With abundant renewable energy and close proximity to important future demand centers for hydrogen and its carrier fuels, the partners’ commitment helps ensure that the UK and the UAE are well-positioned to become regional leaders in the new hydrogen economy and support the two countries’ ambitions Climate goals.
Carbon Capture, Utilization, and Storage (CCUS) is an equally important part of the world’s decarbonization toolkit, which has been successfully constructed on a commercial scale through Teesside and Al Reyadah facilities in the United Kingdom and the UAE, respectively. Under the framework agreement, the two partners look forward to expanding their joint leadership in CCUS technology to explore pilot opportunities for further industrial-scale carbon capture in the UAE.
Although the UAE has maintained a zero conventional combustion policy for a long time, the potential cooperation of partners in new methane detection technology will help further expand the impact of the two countries’ decarbonization strategies. Methane is more than eighty times more effective than carbon dioxide and remains the top priority of the greenhouse gas emission reduction agenda. Therefore, partners must jointly pursue cutting-edge monitoring and analysis platforms.
Similarly, Adnoc and bp’s joint intelligent decision center plan will support the possible development and deployment of remote digital functions to transform the performance management and operational support of the two companies, including in the field of energy efficiency.
Masdar and bp will also explore potential opportunities for joint development, construction and operation of energy and mobile services in the international urban space, including energy efficiency, distributed renewable energy power generation and energy storage.
The measures envisaged in the strategic framework agreement will be approved by the relevant regulatory authorities.
— Business@khaleejtimes.com
Staff reporter
[ad_2]
Source link