(Credit: Abu Dhabi National Oil Company)The Abu Dhabi National Oil Company (ADNOC) has set aside $15 billion (AED55 billion) to pursue numerous decarbonization initiatives along its diverse value chain by 2030, including carbon capture, electrification, new CO2 absorption technology, and enhanced investments in hydrogen and renewables.
The multi-year action plan follows the Board approval of ADNOC’s Net Zero by 2050 ambition. In order to embrace the energy transition and continue to future-proof its company, ADNOC welcomes experts in the worldwide technology and industry to collaborate and drive concrete action.
"Throughout 2023, a suite of new projects and initiatives will be announced, including a first-of-its-kind CCS project, innovative carbon removal technologies, investment in new, cleaner energy solutions, and strengthening of international partnerships. Together with the recent formation of the ADNOC’s new Low Carbon Solutions and International Growth Directorate, these represent tangible and concrete action as the company reduces its carbon intensity by 25% by 2030 and moves towards its Net Zero by 2050 ambition," ADNOC said.
Building on the Al Reyadah facility, which can capture up to 800,000 tons of CO2 annually, ADNOC announced plans to deploy technologies to capture, store, and absorb CO2 by utilizing the UAE's geological properties while getting ready for its next significant investment to capture emissions from its Habshan gas processing facility.
ADNOC stated that its CCS expansion will support the significant scale-up of hydrogen and lower-carbon ammonia production capabilities in Abu Dhabi as ADNOC advances a world-scale 1 million tons per annum (mtpa) blue ammonia production facility at TA'ZIZ, the industrial services and logistics ecosystem that is enabling the expansion of the Al Ruways Industrial City, as well as Abu Dhabi's broader chemicals, manufacturing, and industrial sectors. ADNOC has already supplied test cargoes of low-carbon ammonia to Europe and Asia, according to the corporation.
"Since January 2022, ADNOC has received 100% of its grid power supply from Emirates Water and Electricity Company’s (EWEC) nuclear and solar energy sources, making it the first major company in the industry to decarbonize its power at scale through a clean power agreement of this kind. ADNOC also concluded a $3.8 billion deal to build a first-of-its-kind, sub-sea transmission network in the MENA region, connecting ADNOC’s offshore operations to the onshore power network, with the potential to reduce ADNOC’s offshore carbon footprint by up to 50%," ADNOC said.
Building on multibillion-dollar capital investments in decarbonization projects, ADNOC is collaborating with international partners and stakeholders throughout the energy value chain on technology, best practices, and policy to support and advance global decarbonization operations.
