Strategic program is a key enabler of ADNOC’s Net Zero by 2050 ambition
ADNOC recently announced a bold new strategy to progress the world-scale decarbonization of its operations.
Acting on the Board of Directors’ guidance, ADNOC has allocated US$ 15bn (AED 55bn) to advance an array of projects across its diversified value chain by 2030. These projects will include investments in clean power, carbon capture and storage (CCS), further electrification of its operations, energy efficiency and new measures to build on ADNOC’s long-standing policy of zero routine gas flaring.
“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 support of both these goals,” stressed HE Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO.
Building on ADNOC’s Al Reyadah facility, which has the capacity to capture up to 800,000 tons of CO2 per year, the company will announce plans to deploy technologies to capture, store and absorb carbon dioxide by leveraging the UAE’s geological properties while preparing for its next major investment to capture emissions from its Habshan gas processing facility.
Building on the multi-billion capital investment in decarbonization projects, ADNOC is 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 decarbonization efforts, a press note concluded.