Adnoc Sets New Net-Zero Target for 2045
- Publish date: Monday، 31 July 2023 | Last update: Tuesday، 10 December 2024
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Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed, gives approval to Adnoc's plan to achieve net zero emissions by 2045, advancing the previous target of 2050.
As per the Abu Dhabi Media Office announcement on Monday, the state-run energy company, Adnoc, is also targeting zero methane emissions by 2030.
“Adnoc is the first company in its peer group to accelerate its net zero target to 2045,” it said.
Sheikh Khaled, who is also the chairman of the Abu Dhabi Executive Council, noted that the updated objectives signify a new phase in Adnoc's journey to a more sustainable, lower-carbon future. He urged the company to explore international collaborations and partnerships to enhance its decarbonization strategy.
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As part of Adnoc's decarbonization strategy, a $3.8 billion initiative has been connected to link its offshore operations to clean grid power, effectively cutting its offshore carbon emissions by up to 50%.
Additionally, Adnoc plans to build a low-carbon ammonia production facility with a capacity of 1 million tonnes per annum, aimed at assisting its customers in their own decarbonization efforts, according to ADMO's statement.
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In its report on Monday, Adnoc reported a carbon intensity of 7kg of carbon dioxide equivalent per barrel of oil equivalent for the year 2022. The company also stated that its methane intensity for the same year was approximately 0.07 percent.
Adnoc has allocated $15 billion for projects by 2030 to boost its low-carbon growth strategy, focusing on clean power, carbon capture, electrification, energy efficiency, and zero routine gas flaring.