Sustainable energy will be the top priority for Masdar as it spearheads its carbon management programme in the Middle East.
The project is already under way and will continue beyond 2012 if the Kyoto agreement is extended.
"On both a regional and global scale, emission reductions are a key component to sustainable development," said Sultan Ahmed Al Jaber, CEO of Abu Dhabi Future Energy Company (ADFEC), the company executing the Masdar initiative.
The Abu Dhabi-based company recognises carbon management is rapidly becoming a global industry, and claims GCC countries will play a leading role due to strong integration of CO
into their oil and gas industries.
"Promoting greenhouse gas emission reduction is a major element in Masdar's drive to provide a sustainable environment for coming generations," said Al Jaber.
Masdar's carbon management programme will align with the Clean Development Mechanism (CDM) framework of the Kyoto Protocol, which is designed to lower the overall costs of achieving emissions targets. While the cost of limiting emissions varies from region to region, the benefit for the atmosphere is the same, wherever the action is taken.
"Masdar aims to lead an estimated US $7 billion CDM market in the Middle East and North Africa, harnessing the Abu Dhabi government's commitment - and private investment - to capture the rapidly-closing Kyoto Protocol's window of opportunity," added Al Jaber.
"The first commitment period of the Protocol is 2008 to 2012. Due to the uncertainty of events after 2012, credits to be generated beyond 2012 have little or no value today. Therefore, to reliably develop bankable projects and implement them, developers must move very aggressively during the next two years or risk losing the opportunity."
The company will also implement sustainable infrastructure projects, leading to a sizeable carbon emission reduction, with a particular focus on CO
capture and storage (CCS). The CCS project targets CO
capture from Abu Dhabi's major emission sources and its delivery to oilfield operators for enhanced oil recovery.
"CCS is a major initiative that will demonstrate Abu Dhabi's global leadership in environmental responsibility," said Al Jaber. "Masdar... [unites] other Abu Dhabi government stakeholders in a vision to build a regionally-scaleable carbon capture and distribution network. We believe that a national CCS grid connected to the major CO
emitters may be developed within 15-20 years. A feasibility study is currently in progress to map out the key factors of such a grid."
The company claims its CCS network could halve Abu Dhabi's annual CO
emissions. This is in addition to increasing oil production by up to 10% and liberating large quantities of natural gas that are currently re-injected into Abu Dhabi oil reservoirs.
, which would be supplied by the CCS network, is an ideal substitute for natural gas for re-injection into oil wells," said Al Jaber. Thus, carbon sequestration will achieve significant environmental improvements through emissions reductions, better oil recovery performance, and potentially carbon credits once the corresponding methodology is approved by the UNFCCC," he said.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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