Abu Dhabi companies Adnoc and Masdar signed deals on Friday to explore green hydrogen opportunities amid the UAE's efforts to establish itself as a hub for the low-carbon fuel.
Adnoc has teamed up with Japan’s Mitsubishi Heavy Industries to explore potential opportunities in green hydrogen and ammonia value chains.
The companies will also explore research and deployment of carbon management technologies, the state-run energy company said.
“This agreement … builds on the UAE’s long-standing and successful strategic energy relationship with Japan,” said Musabbeh Al Kaabi, Adnoc's executive director of low carbon solutions and international growth.
“Our combined expertise and commitment to advancing carbon neutral technologies offers great potential to help accelerate Adnoc’s journey to net zero by 2045.”
Low-carbon hydrogen and ammonia are critical to decarbonising hard-to-abate industries and meeting growing global demand for cleaner feed stock for power generation.
Adnoc is building a one million tonnes-per-year low-carbon ammonia production facility at the Ta'ziz industrial ecosystem and chemicals hub in Ruwais, Abu Dhabi.
The company has also shipped several demonstration cargoes of low-carbon ammonia to customers in Asia and Germany.
“We are looking forward to contributing to Adnoc’s net-zero ambition through our reliable technology in the coming projects under this agreement,” said Hitoshi Kaguchi, senior executive vice president at Mitsubishi Heavy Industries.
Separately, Abu Dhabi clean energy company Masdar signed an initial agreement with Austria's OMV to explore the production of green hydrogen for the decarbonisation of industrial processes in OMV’s refineries.
The deal forms the basis of a joint agreement to develop an industrial large-scale electrolysis plant, which will be powered by renewable energy, Masdar said in a statement.
The companies will collaborate to develop the project and plan to make a final investment decision in the second half of 2024.
“This co-operation agreement … is another step in the right direction towards building a robust hydrogen value chain and supports our ongoing aim of one million tonnes of green hydrogen per annum globally by 2030,” said Mohammad Al Ramahi, Masdar’s chief green hydrogen officer.
The Emirates, the Arab world’s second-largest economy, aims to achieve hydrogen production of 1.4 million tonnes annually by 2031, increasing to 15 million tonnes a year by 2050.
The country is planning to develop at least two hydrogen production hubs, or oases, by 2031.
Masdar, which is active in more than 40 countries, aims to expand its capacity to about 100 gigawatts of renewable energy by the end of the decade.
This week, Masdar and Spain’s Iberdrola signed a €15 billion ($16.25 billion) partnership to evaluate the development of offshore wind and green hydrogen projects in key markets including Germany, the UK and the US.
On Thursday, Masdar also signed a deal with Austria's Verbund Green Hydrogen to explore the feasibility of building one of Europe’s largest green hydrogen production plants in central Spain.
The plant, to be operational by the end of the decade, would aim to generate green hydrogen to cover industrial demand in Spain and central Europe, the companies said.
The fuel produced is expected to be used to decarbonise Spain or Europe’s hard-to-abate sectors, which could include steel production, fertilisers, chemicals, heavy transportation and aviation.
It is intended that the plant would produce the fuel using renewable energy generated by solar power plants, potentially including Masdar’s planned gigawatt-scale solar plant in Castilla-La Mancha, and onshore wind farms, the companies said.
The study will evaluate if green hydrogen produced at the plant has the potential to displace up to one million tonnes of carbon emissions annually.
There is huge growth potential for green hydrogen in Europe. Spain currently consumes around 500,000 tonnes of mainly traditional fuel-derived grey hydrogen per year, which could be gradually replaced with green hydrogen.
By 2035, Austria alone is expected to require around 600,000 tonnes per year of clean hydrogen, the companies said.
Killing of Qassem Suleimani
Killing of Qassem Suleimani
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
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Qalandars 109-3 (10ovs)
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Bangla Tigers win by six wickets
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A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
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Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
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Vardy 58'
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