Masdar is exploring the use of the Southern Gas Corridor (SGC), which is currently used to deliver natural gas from Azerbaijan to Europe, for green hydrogen, according to a senior executive.
The Abu Dhabi-based clean energy company recently completed three major solar and wind power projects in the Central Asian country, with a combined capacity of one gigawatt.
Maryam Al Mazrouei, Masdar's head of development and investment for the Commonwealth of Independent States region, said the company is advancing the development of two gigawatts of offshore wind energy, which will be used to produce green hydrogen.
Ms Al Mazrouei said that the main issues around green hydrogen include identifying potential off-takers and determining whether it will be used for the domestic market or exported to Europe.
“The SGC, which takes natural gas all the way to Europe, is also a part of the study that we are implementing, [to see if] it is really feasible to inject green hydrogen and also utilise the same infrastructure,” she told The National.
“Once we have a clear visibility, we will proceed in collaboration with our main stakeholders here.”
The 3,200-kiliometre pipeline, which passes through Georgia and Turkey, and then under the Adriatic Sea to Italy, is considered to be key to Europe’s energy security as the region looks to shift away from Russian gas imports.
Azerbaijan is looking to increase its gas supply to Europe to about 20 billion cubic metres (bcm) annually by 2027, from about 11 million bcm currently.
The country, which will host the Cop29 climate conference in November, aims to generate 30 per cent of its total power capacity from clean energy sources by 2030.
Masdar, which aims to develop 10 gigawatts of renewable energy projects in Azerbaijan, opened an office in Baku last year and pledged to strengthen its support for the country's renewable energy programme.
The initial phase will involve four gigawatts, while the second phase will be six gigawatts in size. The first phase will include two gigawatts for onshore projects and the two gigawatts to produce green hydrogen from offshore wind.
“A part of the [10 gigawatts] will cover Azerbaijan’s domestic demand, and a part of it will also be exported to neighbouring countries,” Ms Al Mazrouei said.
Masdar has actively invested in several Central Asian countries, including Kazakhstan, Uzbekistan, Kyrgyzstan, and Azerbaijan. The region boasts abundant wind and solar resources, making it ideal for the development of renewable energy projects.
“Most of these projects has been awarded through tenders, and some of these [have] also been initiated through the government-to-government bilateral channels,” Ms Al Mazrouei said.
Masdar, jointly owned by the Abu Dhabi National Energy Company, better known as Taqa, Adnoc and Mubadala, is active in 40 countries. It aims to expand its capacity to at least 100 gigawatts of renewable energy by the end of the decade from about 20 gigawatts currently.
The company is planning a possible entry into China, the world’s largest renewable energy market, a senior executive told The National in April.
The company is evaluating the market and engaging with potential partners to determine the most suitable approach for entering the Asian country, Abdulaziz Alobaidli, Masdar's chief operating officer, said at the time.
Tomorrow 2021
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Range: Up to 610km
Power: 905hp
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THE BIO
Favourite book: ‘Purpose Driven Life’ by Rick Warren
Favourite travel destination: Switzerland
Hobbies: Travelling and following motivational speeches and speakers
Favourite place in UAE: Dubai Museum
South Africa v India schedule
Tests: 1st Test Jan 5-9, Cape Town; 2nd Test Jan 13-17, Centurion; 3rd Test Jan 24-28, Johannesburg
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Jetour T1 specs
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Power: 254hp
Torque: 390Nm
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The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Liverpool: Ings (4'), Salah (72')
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Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
Bridgerton%20season%20three%20-%20part%20one
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Engine: 51.5kW electric motor
Range: 400km
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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The Sackler family is a transatlantic dynasty that owns Purdue Pharma, which manufactures and markets OxyContin, one of the drugs at the centre of America's opioids crisis. The family is well known for their generous philanthropy towards the world's top cultural institutions, including Guggenheim Museum, the National Portrait Gallery, Tate in Britain, Yale University and the Serpentine Gallery, to name a few. Two branches of the family control Purdue Pharma.
Isaac Sackler and Sophie Greenberg were Jewish immigrants who arrived in New York before the First World War. They had three sons. The first, Arthur, died before OxyContin was invented. The second, Mortimer, who died aged 93 in 2010, was a former chief executive of Purdue Pharma. The third, Raymond, died aged 97 in 2017 and was also a former chief executive of Purdue Pharma.
It was Arthur, a psychiatrist and pharmaceutical marketeer, who started the family business dynasty. He and his brothers bought a small company called Purdue Frederick; among their first products were laxatives and prescription earwax remover.
Arthur's branch of the family has not been involved in Purdue for many years and his daughter, Elizabeth, has spoken out against it, saying the company's role in America's drugs crisis is "morally abhorrent".
The lawsuits that were brought by the attorneys general of New York and Massachussetts named eight Sacklers. This includes Kathe, Mortimer, Richard, Jonathan and Ilene Sackler Lefcourt, who are all the children of either Mortimer or Raymond. Then there's Theresa Sackler, who is Mortimer senior's widow; Beverly, Raymond's widow; and David Sackler, Raymond's grandson.
Members of the Sackler family are rarely seen in public.
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
Mohammed bin Zayed Majlis
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
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The five pillars of Islam
1.
2.
3.
4.
5.
Company%20profile
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
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PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
OPINIONS ON PALESTINE & ISRAEL
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The biog
First Job: Abu Dhabi Department of Petroleum in 1974
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work
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- Power: 640hp
- Torque: 760nm
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Mohammed bin Zayed Majlis
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