ADNOC targets 25 pct decrease in greenhouse gas emissions by 2030
- Business & Finance
UAE’s ADNOC has revealed plans to decrease its greenhouse gas emissions intensity by 25 percent by 2030 as part of its sustainability goals.
The company’s plan to reduce the emissions was announced as part of a set of comprehensive sustainability goals by Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO while speaking at the opening ceremony of the Abu Dhabi Sustainability Week (ADSW).
“The sustainability goals underscore ADNOC’s strong environmental, social and governance (ESG) performance as the company responds to rising global energy demand and delivers its 2030 smart growth strategy. In addition, they are aligned with the United Nation’s Sustainable Development Goals on responsible consumption and production, climate action, protecting biodiversity and enhancing economic opportunity,” the company said.
As part of its sustainability goals, ADNOC plans to decrease its greenhouse gas (GHG) emissions intensity by 25 percent by 2030. According to the International Association of Oil & Gas Producers (IOGP), ADNOC currently ranks in the top five lowest GHG emitters in the oil and gas industry and has one of the lowest methane intensities of 0.01 percent.
ADNOC also committed to limit its freshwater consumption ratio to below 0.5 percent of total water use. Today, over 99 percent of the water ADNOC uses for cooling purposes is extracted seawater which is discharged back to sea after undergoing treatment to ensure compliance with ADNOC’s strict discharge standards.”
To enable ADNOC’s goal to reduce its GHG intensity by 25 percent, ADNOC said it was building on the success of the region’s first commercial-scale carbon capture, utilization and storage (CCUS) facility.
Currently, Al Reyadah facility has the capacity to capture 800,000 tonnes of CO2 annually. ADNOC plans to expand the capacity of this program six-fold by capturing CO2 from its own gas plants, with the aim of reaching 5 million tonnes of CO2 every year by 2030.
ADNOC noted it has a longstanding zero intentional flaring policy, which has reduced the volume of natural gas flared by more than 90 percent since the inception of the company.
Also during the Abu Dhabi Sustainability Week, ADNOC said it was on track to increase its crude oil production capacity to four million barrels per day by the end of this year.