ADNOC accelerates net zero and decarbonisation plan

ADNOC has brought forward its net zero carbon emissions target by five years to 2045.

The Abu Dhabi based energy and petrochemicals company also aims to achieve zero methane emissions by 2030.

It is set to increase investments in and double down on its decarbonisation efforts, backed by an initial $15 billion allocation to low-carbon solutions.

The plan includes a $3.8 billion, first-of-its-kind project connecting ADNOC's offshore operations to clean grid power, which will reduce its offshore carbon footprint by up to 50 per cent.

It also includes building a 1 million tonnes per annum low-carbon ammonia production facility to help ADNOC’s customers decarbonize.

The decarbonisation plan was unveiled during a meeting of the Executive Committee of the ADNOC Board of Directors, chaired by His Highness  Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council.

The company disclosed that its upstream carbon intensity in 2022 was around 7 kg of carbon dioxide equivalent per barrel of oil equivalent, which is among the lowest in the world, while its methane intensity last year was about 0.07 per cent.

Additionally, in 2022, ADNOC achieved greenhouse gas (GHG) emissions reductions of 4 million tonnes by using grid energy from solar and nuclear power for onshore operations and 1 million tonnes from energy efficiency and flaring reduction projects.

Khaled bin Mohamed bin Zayed has chaired the meeting of the Executive Committee of the Board of Directors of ADNOC, during which he approved ADNOC’s accelerated decarbonisation plan to bring forward its net zero ambition to 2045 and to achieve zero methane emissions by 2030. pic.twitter.com/7rnalV6rRo

— مكتب أبوظبي الإعلامي (@ADMediaOffice) July 31, 2023

Read more: https://t.co/W1FRHLKA69 pic.twitter.com/cyvqcPZc45

— مكتب أبوظبي الإعلامي (@ADMediaOffice) July 31, 2023