ADNOC is accelerating its decarbonisation plan to bring forward its net zero ambition to 2045, from its previous target of 2050, and to achieve zero methane emissions by 2030.
“These new targets mark a new chapter in ADNOC’s transformational journey to a lower-carbon future,” the company said in a press release.
ADNOC is also set to increase investments in and double down on its decarbonisation efforts, backed by an initial $15 billion allocation to low-carbon solutions. The company has extended an open invitation to investors, climate technology providers, and industry across all sectors to partner on its journey to supercharge and accelerate decarbonisation solutions.
In 2022, ADNOC achieved greenhouse gas (GHG) emissions reductions of about 4mt by using grid energy from solar and nuclear power to supply 100% of its onshore operations as well as about 1mt from energy efficiency and flaring reduction projects.
The company is also playing an important role in supporting the UAE’s recently updated Energy Strategy 2050, its new National Hydrogen Strategy, and Abu Dhabi’s Climate Change Strategy.
The state-owned energy giant recently made an initial allocation of $15 billion to expedite the implementation of its key decarbonisation initiatives, including carbon capture and storage, electrification, energy efficiency, and nature-based solutions.
ADNOC’s decarbonisation plan includes a $3.8 billion, first-of-its-kind at scale, project connecting its offshore operations to clean grid power, which will reduce its offshore carbon footprint by up to 50%. It also includes building a 1 million tonnes per annum low-carbon ammonia production facility to help ADNOC’s customers decarbonize.
This year, ADNOC started two pilot projects to deploy leading climate technologies to capture and permanently store carbon dioxide (CO2) as part of its plan to expand its carbon capture capacity to 5 million tonnes per annum by 2030.
Last year, ADNOC established a Low Carbon Solutions and International Growth Directorate to identify opportunities and drive forward its decarbonization plans, building off the company’s successful track record of responsibly and reliably supplying energy to the world.
