H.H. Sheikh Khaled bin Mohamed bin Zayed Chairs ADNOC Executive Committee Meeting, Focuses on Carbon Management Strategy
In a significant meeting held at the Abu Dhabi National Oil Company (ADNOC) headquarters, H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, led the Executive Committee of ADNOC’s Board of Directors. The session, held to oversee ADNOC’s key initiatives, saw discussions on the company’s carbon management strategy and its ambitious goal of doubling carbon capture capacity to 10 million tonnes per annum (mtpa) of carbon dioxide (CO2) by 2030.
ADNOC’s carbon management strategy is designed to establish a comprehensive platform that connects emission sources and sequestration sites, thus expediting ADNOC and the UAE’s decarbonization objectives. In line with this strategy, ADNOC recently took the final investment decision (FID) to advance its pioneering 1.5 mtpa Habshan Carbon Capture, Utilization, and Storage (CCUS) project.
During the meeting, H.H. Sheikh Khaled expressed his appreciation for the remarkable strides ADNOC has taken this year in translating its commitment to achieving a net-zero carbon footprint by 2045 into concrete actions. These actions encompass the adoption of solar and nuclear energy to power its operations, scaling up carbon capture capacity, reducing methane emissions, and investments in renewable energy and hydrogen as a shareholder in Masdar.
His Highness underscored ADNOC’s leading role, particularly during the UAE Year of Sustainability, as a driving force behind responsible growth and economic diversification within the nation. He issued directives to ensure that sustainability remains at the core of ADNOC’s strategy, safeguarding its future while stimulating growth across its value chain. Additionally, he urged the company to explore further opportunities for international expansion.
As part of ADNOC’s commitment to advancing climate technology solutions, the company initiated a USD 1 million (AED 3.67 million) Decarbonization Technology Challenge earlier this year, coinciding with the successful UAE Climate Tech event that brought together 1,500 technology leaders and climate technology pioneers in Abu Dhabi. His Highness was updated on the progress of the challenge, which garnered 650 applications from global firms vying for the opportunity to pilot decarbonization technology in ADNOC’s operations.
The challenge builds upon ADNOC’s ongoing innovative, technology-driven pilot projects, including CO2 mineralization and comprehensive carbon sequestration in saline aquifers in Abu Dhabi.
Other distinguished attendees at the meeting included Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO; Ahmed Ali Al Sayegh, Minister of State; Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company; and Jassem Mohammed Buatabah Al Zaabi, Chairman of the Abu Dhabi Department of Finance.
The meeting served as a testament to ADNOC’s unwavering commitment to environmental stewardship and sustainable practices, with a vision to play a pivotal role in steering Abu Dhabi and the UAE towards a cleaner and more sustainable future.
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