With an objective of reducing its carbon intensity by 25 percent by 2030 and becoming net zero by 2050, Abu Dhabi National Oil Company (ADNOC) is committing AED55 billion (appx $15 billion) to advance an array of projects across its diversified value chain.
These projects include investments in clean power, carbon capture and storage (CCS), further electrification of its operations, energy efficiency and new measures to build on its long-standing policy of zero routine gas flaring.
This follows a recent directive in November 2022 from ADNOC’s Board of Directors to accelerate the delivery of its low-carbon growth strategy and the approval of its Net Zero by 2050 ambition.
Several new projects and initiatives will be announced throughout the year, including a first-of-its-kind CCS project, innovative carbon removal technologies, investment in new, cleaner energy solutions and strengthening of international partnerships.
Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and ADNOC Managing Director and Group CEO, said: “ADNOC continues to take significant steps to make today’s energy cleaner while investing in the clean energies and new technologies of tomorrow.
“Now, more than ever, the world needs a practical and responsible approach to the energy transition that is both pro-growth and pro-climate, and ADNOC is delivering tangible actions in both areas.
“ADNOC will fast-track significant investments into landmark clean energy, low-carbon and decarbonisation technology projects. As we continue to future-proof our business, we invite technology and industry leaders to partner with us, to collectively drive real and meaningful action that embraces the energy transition.”
ADNOC’s Al Reyadah facility currently captures up to 800,000 tonnes per year of CO2. The company will soon announce its next major investment to capture emissions from its Habshan gas processing facility. Combined with other planned expansions, it aims for a carbon capture capacity to 5 million tonnes per year by 2030.
ADNOC is also planning a significant scale-up of hydrogen and lower-carbon ammonia production capabilities with a world-scale 1 million-tonne-per-year blue ammonia production facility at TA’ZIZ. The company has already delivered test cargoes of low-carbon ammonia to Europe and Asia.
Through its stake in Masdar, ADNOC produces more than 20 gigawatts (GW) of clean energy today and plans to increase its capacity to 100GW by 2030. Masdar is also spearheading the UAE’s drive to develop a leading position in green hydrogen.
Since January 2022, ADNOC has received 100 percent of its grid power supply from Emirates Water and Electricity Company’s nuclear and solar energy sources, making it the first major company in the industry to decarbonise its power at scale through such a clean power agreement.
ADNOC is also working closely with its international partners and stakeholders across the energy value chain to collaborate on technology, best practices and policy to support and drive global decarbonisation efforts.
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