Santos, ADNOC sign collaboration pact on decarbonisation
SUMMARY
The agreement will see the two companies work together to develop and provide decarbonisation solutions to a broad range of energy users across Asia.
By Shardul SharmaAustralian energy producer Santos and Abu Dhabi-based oil and gas company ADNOC have signed a strategic collaboration agreement to explore the potential for establishing a platform offering decarbonisation services, Santos said on November 22.
The agreement will see the two companies work together to develop and provide decarbonisation solutions to a broad range of energy users across Asia. This includes potential collaboration on the development of carbon capture, storage and utilization (CCS) technologies, joint participation in global CCS projects, and provision of CCS solutions to emitting companies across Asia, including the development of shipping and transport infrastructure.
Santos Energy Solutions executive vice president Alan Stuart-Grant said the agreement highlighted the ongoing role of energy companies in delivering real decarbonisation solutions to the large energy-consuming economies of Asia.
“Energy companies like Santos and ADNOC have been long-term energy suppliers to the Asian region and key to its energy security, industrial growth and rising living standards,” Stuart-Grant said. “Through collaboration, we can accelerate the region’s transition toward a low-carbon future that is both reliable and affordable.”
Santos has a three-hub CCS strategy with the Moomba CCS project on track for first injection in 2024, front-end engineering and design (FEED) at Bayu-Undan CCS (offshore Timor Leste) nearing completion, and the proposed Reindeer project (offshore Western Australia).
ADNOC has allocated an initial $15bn to advance and accelerate lower-carbon solutions by investing in new energies and decarbonisation technologies. The company has ambitions to reach net zero by 2045 and has already announced the intention to capture up to 10mn tonnes/year of CO2 by 2030.
