Abu Dhabi National Oil Company (ADNOC) is set to receive up to 100 percent of its grid power from clean energy sources by January next year, Sultan Ahmed Al Jaber (above), the UAE Minister of Industry and Advanced Technology and managing director and group CEO of ADNOC said on Monday, according to Oil & Gas Middle East.
The oil and gas industry has faced tremendous challenges over the past couple of years as the Covid-19 pandemic upended the traditional energy demand outlook. Demand collapsed in 2020 as government-mandated lockdown rules kept people at home across the world, reducing the need for energy.
Furthermore, calls for transition towards cleaner energy sources have caused the industry to speed up efforts and investments in the global energy transition.
“We will soon deliver another first for our industry. From January, up to 100 percent of our grid power will come from clean sources, namely nuclear and solar. In one move, this will significantly reduce ADNOC’s operational emissions,” Al Jaber said.
Last month, the UAE authorities announced a target to achieve net zero carbon emissions by 2050, in addition to a plan to invest AED600 billion ($163bn) in renewable energy to support the initiative. Al Jaber said that ADNOC’s announcement would support this goal.
“It brings us more than one third of the way towards our 2030 carbon intensity targets. Importantly, it will make a practical contribution to the UAE’s net zero by 2050 strategic initiative. Not years from now, but in a matter of weeks, and only 45 days from now,” he explained.
Open for business
The UAE is “open for business and ready to partner across the energy ecosystem”, Al Jaber said, according to Oil & Gas Middle East, noting that the “world demands more energy with fewer emissions”.
“If the world is to resolve the dilemma of the energy transition, the solutions will be found where the energy expertise exists. That means that we in our industry have a phenomenal, huge opportunity in front of us. Rewiring the energy system is a multi-trillion dollar business opportunity that is good for the climate, good for humanity and good for sustainable economic growth,” Al Jaber explained.
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