UAE state-owned oil company raises net-zero climate goal to 2045

August 3, 2023

The Abu Dhabi Crown Prince and Chairman of the Abu Dhabi Executive Council, Khaled bin Mohamed bin Zayed Al Nahyan, gave his approval to ADNOC’s plan to advance its net zero goal to 2045, according to a statement posted on its website on Monday.

Image Source: Upstream Online

The net-zero plans of the Abu Dhabi National Oil Company (Adnoc) will be accelerated by five years, to 2045, and will include achieving zero methane emissions by 2030. The largest producer of oil and gas in the nation, Adnoc, is located in the United Arab Emirates, which will host the COP28 climate change negotiations later this year. Because it intends to increase oil and gas production in a world moving away from fossil fuels, the UAE has been singled out for criticism by Western critics.

“ADNOC’s commitment to sustainability and decarbonization dates back to the company’s founding,” the company said in the statement.

In order to collaborate on and advance its decarbonization plan, the executive committee urged ADNOC to look for new international partnerships with progressive energy companies, clients, and technology players during the meeting. In order to find opportunities and advance its decarbonization plans, ADNOC established a Low Carbon Solutions and International Growth Directorate last year.

With the aim of reducing its offshore carbon footprint by up to 50%, ADNOC’s decarbonization strategy includes a $3.8 billion, first-of-its-kind at-scale project that will connect its offshore operations to clean grid power. In order to assist its clients in decarbonizing, it also entails the construction of a 1 million tonnes per year low-carbon ammonia production facility. 

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