ADNOC goes over its decarbonization progress
UAE’s energy giant Abu Dhabi National Oil Company (ADNOC) has taken the time to check its progress towards doubling carbon capture capacity by the end of the decade. In addition, the UAE player also reviewed steps taken to deliver tangible actions towards its accelerated net-zero by 2045 plan.
In a bid to review the progress of ADNOC’s carbon management strategy and its ambition to double its carbon capture capacity to 10 million tonnes per annum (mtpa) of carbon dioxide (CO2) by 2030, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, chaired a meeting of the Executive Committee of the ADNOC Board of Directors on 28 September 2023.
Other members attending the meeting included Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO; Ahmed Ali Al Sayegh, Minister of State; Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company and Jassem Mohammed Buatabah Al Zaabi, Chairman of the Abu Dhabi Department of Finance.
The firm’s carbon management strategy aims to create a unique platform that connects all the sources of emissions and sequestration sites to accelerate the delivery of decarbonization goals, which were set by the company and the UAE. As part of this strategy, ADNOC recently announced the final investment decision (FID) to develop its 1.5 mtpa Habshan carbon capture, utilization, and storage (CCUS) project.
The UAE giant’s decarbonization targets are being pursued through the use of solar and nuclear energy to power operations, scaling up carbon capture capacity, driving down methane emissions, and investing in renewable energy and hydrogen as a shareholder in Masdar.
Bearing this in mind, Chairman of the Abu Dhabi Executive Council highlighted ADNOC’s role, during the UAE Year of Sustainability, as “a catalyst for responsible growth and diversification of the nation’s economy” and gave directives to ensure sustainability remains central to the company’s strategy to future-proof its business while driving growth across its value chain. In addition, he directed the company to explore further opportunities for international growth.
In line with this, the recent agreement for closer energy transition and climate action ties between the UAE and Japan is expected to lead to faster decarbonization by leveraging climate technology. In the long term, the bilateral agreement could lead to a green energy hub between the two countries.
Furthermore, the company launched a $1 million (AED3.67) Decarbonization Technology Challenge earlier this year at the UAE Climate Tech event, which brought together 1,500 technology leaders and pioneers in climate technology in Abu Dhabi. This was undertaken as part of ADNOC’s efforts to advance climate technology solutions.
The challenge, which attracted 650 applications from global companies for the opportunity to pilot decarbonization technology in the firm’s operations, builds on several innovative, technology-driven pilot projects that the firm is already implementing, including CO2 mineralization and full carbon sequestration in saline aquifers in Abu Dhabi.
Meanwhile, ADNOC claims that it played “an important role” in TechnipFMC’s decision to open its first manufacturing facility in the UAE. The energy technology company’s new facility in ICAD III, Abu Dhabi, will produce UAE-made wellheads and flow-control products for ADNOC and companies across the region.
“We’ll continue enabling our suppliers to establish and expand their facilities in the UAE – driving in-country value, creating new private sector opportunities for UAE nationals and ensuring we build a sustainable supply chain,” said ADNOC.