Adnoc has allocated $15 billion to invest in a range of projects by 2030, which will help it accelerate its low-carbon growth strategy.
The state-owned energy company will invest in clean power, carbon capture and storage, further electrification of operations, energy efficiency and new measures to build on its policy of zero routine gas flaring, the company said in a statement on Thursday.
“Adnoc continues to take significant steps to make today’s energy cleaner while investing in the clean energies and new technologies of tomorrow,” Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc group chief executive, said.
“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.”
Adnoc is preparing for a “major” investment to capture emissions at its Habshan gas processing facility. It forms part of its plan to increase its carbon capture capacity to five million tonnes per annum by the end of the decade, the company said.
Adnoc also said it aims to deploy new technologies to capture and store carbon dioxide by leveraging the UAE’s geological properties.
The company’s Al Reyadah carbon capture plant, which was completed in 2016, has a capacity of 800,000 tonnes per year.
“Cementing our strong track record of responsible and reliable energy production, Adnoc will fast-track significant investments into landmark clean energy, low-carbon and decarbonisation technology projects,” said Dr Al Jaber.
“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 will apply a “rigorous” commercial and sustainability assessment to ensure that each project delivers “lasting tangible impact”, the company said.
Last month, Adnoc said it was setting up a new low-carbon solutions and international growth vertical, which will focus on renewable energy, clean hydrogen and carbon capture and storage, as well as international expansion in gas, liquefied natural gas and chemicals.
The company, responsible for most of the UAE’s oil and gas output, has been investing heavily in the production of natural gas and hydrogen as the Arab country looks to reach net-zero emissions by 2050.
Adnoc is already a major producer of hydrogen and ammonia, with more than 300,000 tonnes of hydrogen produced a year at its Ruwais Industrial Complex.
Last year, Adnoc approved a Dh550 billion ($150 billion) budget for the next five years as the company prepares to set up its gas subsidiary and list its shares on the Abu Dhabi Securities Exchange next year.
The company’s board endorsed plans to bring forward the expansion of Adnoc’s production capacity, currently at five million barrels per day, to 2027, from the previous target of 2030.
Adnoc said the expansion of its new energy portfolio will largely be delivered through its stake in Abu Dhabi's clean energy company Masdar, which plans to increase its capacity to 100 gigawatts by 2030, from 20 gigawatts currently.
In December, Abu Dhabi National Energy Company, better known as Taqa, Mubadala Investment Company and Adnoc completed a deal to become shareholders in Masdar.
Established by Mubadala in 2006, Masdar took a leadership role in the global energy sector and also helped to drive the nation’s economic diversification and climate action agenda.
Masdar currently operates in 40 countries and has a total investment of about $20 billion.
Adnoc also said it had been meeting 100 per cent of its power requirements from solar and nuclear since January 2022, following an agreement with the Emirates Water and Electricity Company.
In September, Adnoc and Taqa closed a $3.8 billion strategic project to power and decarbonise Adnoc's offshore production operations.
A consortium comprising Korea Electric Power (Kepco), Kyushu Electric Power Company (Kyuden) and Electricite de France (EDF), will build and operate a sub-sea transmission system alongside Adnoc and Taqa.
The development is expected to reduce the carbon footprint of Adnoc's offshore operations by up to 50 per cent, replacing existing offshore gas turbine generators with more sustainable power sources from the Abu Dhabi onshore power network.
Adnoc has set a new methane emissions target for its upstream unit as part of its efforts to reduce its overall greenhouse gas emissions.
The company aims to have the “Middle East’s lowest” methane intensity target of 0.15 per cent by 2025.
The UAE plans to invest $160 billion in clean and renewable energy sources over the next three decades.
It is building the five-gigawatt Mohammed Bin Rashid Al Maktoum Solar Park in Dubai. Abu Dhabi, which is developing a two-gigawatt solar plant in its Al Dhafra region, has set a target of 5.6 gigawatts of solar photovoltaic capacity by 2026.
Five healthy carbs and how to eat them
Brown rice: consume an amount that fits in the palm of your hand
Non-starchy vegetables, such as broccoli: consume raw or at low temperatures, and don’t reheat
Oatmeal: look out for pure whole oat grains or kernels, which are locally grown and packaged; avoid those that have travelled from afar
Fruit: a medium bowl a day and no more, and never fruit juices
Lentils and lentil pasta: soak these well and cook them at a low temperature; refrain from eating highly processed pasta variants
Courtesy Roma Megchiani, functional nutritionist at Dubai’s 77 Veggie Boutique
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4.35pm: Tilal Al Khalediah
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New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
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- Refugees will have a reduced right to public funds
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Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
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Investment raised: $4 million
What is Diwali?
The Hindu festival is at once a celebration of the autumn harvest and the triumph of good over evil, as outlined in the Ramayana.
According to the Sanskrit epic, penned by the sage Valmiki, Diwali marks the time that the exiled king Rama – a mortal with superhuman powers – returned home to the city of Ayodhya with his wife Sita and brother Lakshman, after vanquishing the 10-headed demon Ravana and conquering his kingdom of Lanka. The people of Ayodhya are believed to have lit thousands of earthen lamps to illuminate the city and to guide the royal family home.
In its current iteration, Diwali is celebrated with a puja to welcome the goodness of prosperity Lakshmi (an incarnation of Sita) into the home, which is decorated with diyas (oil lamps) or fairy lights and rangoli designs with coloured powder. Fireworks light up the sky in some parts of the word, and sweetmeats are made (or bought) by most households. It is customary to get new clothes stitched, and visit friends and family to exchange gifts and greetings.
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Netherlands v UAE, Twenty20 International series
Saturday, August 3 - First T20i, Amstelveen
Monday, August 5 – Second T20i, Amstelveen
Tuesday, August 6 – Third T20i, Voorburg
Thursday, August 8 – Fourth T20i, Vooryburg
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Stormy seas
Weather warnings show that Storm Eunice is soon to make landfall. The videographer and I are scrambling to return to the other side of the Channel before it does. As we race to the port of Calais, I see miles of wire fencing topped with barbed wire all around it, a silent ‘Keep Out’ sign for those who, unlike us, aren’t lucky enough to have the right to move freely and safely across borders.
We set sail on a giant ferry whose length dwarfs the dinghies migrants use by nearly a 100 times. Despite the windy rain lashing at the portholes, we arrive safely in Dover; grateful but acutely aware of the miserable conditions the people we’ve left behind are in and of the privilege of choice.
Killing of Qassem Suleimani
High profile Al Shabab attacks
- 2010: A restaurant attack in Kampala Uganda kills 74 people watching a Fifa World Cup final football match.
- 2013: The Westgate shopping mall attack, 62 civilians, five Kenyan soldiers and four gunmen are killed.
- 2014: A series of bombings and shootings across Kenya sees scores of civilians killed.
- 2015: Four gunmen attack Garissa University College in northeastern Kenya and take over 700 students hostage, killing those who identified as Christian; 148 die and 79 more are injured.
- 2016: An attack on a Kenyan military base in El Adde Somalia kills 180 soldiers.
- 2017: A suicide truck bombing outside the Safari Hotel in Mogadishu kills 587 people and destroys several city blocks, making it the deadliest attack by the group and the worst in Somalia’s history.