UAE's ADNOC advances net-zero target to 2045
SUMMARY
The company is also aiming to achieve zero methane emissions by 2030. [Image: ADNOC]
By Shardul SharmaState-owned company ADNOC has accelerated its net-zero ambition, moving the target from 2050 to 2045, and is aiming to achieve zero methane emissions by 2030, it said on July 31.
To support its decarbonisation goals, ADNOC recently allocated an initial $15bn to expedite key initiatives, such as carbon capture and storage, electrification, energy efficiency, and nature-based solutions.
The company's decarbonisation plan includes a $3.8bn project to connect its offshore operations to clean grid power, resulting in a substantial reduction in its offshore carbon footprint. Additionally, ADNOC plans to construct a low-carbon ammonia production facility, capable of producing 1mn tonnes/year, to support its customers' efforts in decarbonisation.
Furthermore, ADNOC is actively working on pilot projects to deploy carbon capture technologies, with the objective of expanding its carbon capture capacity to 5mn t/yr by 2030.
