ADNOC creates Low Carbon Solutions & International Growth vertical
Abu Dhabi National Oil Company (ADNOC) is accelerating operationalization of its board mandated low carbon growth strategy, by establishing a new Low Carbon Solutions and International Growth vertical that will focus on renewable energy, clean hydrogen and carbon capture and storage, as well as international expansion in gas, liquefied natural gas (LNG) and chemicals. Musabbeh Al Kaabi has been appointed Executive Director of the new vertical.
The creation of the Low Carbon Solutions & International Growth vertical builds on the company’s successful track record in responsibly and sustainably supplying energy to the world. It will play an important role in advancing the company’s ongoing transformation, which has included a steadfast focus on the decarbonization of its operations, energy efficiency and operational excellence, reductions in methane emissions, advancing CCUS to cut CO2 emissions, and the use of renewable and other zero-carbon energy sources.
ADNOC recently set a new upstream methane intensity target of 0.15% by 2025, which is the lowest in the Middle East, and plans to continue to reduce methane emissions through the use of flare gas recovery systems and regular leak detection and repair programs.
As part of its commitment to cutting emissions, ADNOC is building on the success of the region’s first commercial-scale carbon capture, utilization and storage (CCUS) facility, to increase its CO2 capture capacity by over 500%, to approximately 5 million tons per year by 2030. This will be achieved by capturing additional CO2 from its gas processing plants and other sources of CO2 emissions.
Meanwhile, in collaboration with industry partners, academia, and research institutes, ADNOC is exploring opportunities to advance CCUS technology development and deployment, while driving down its costs.
As part of its decarbonization roadmap, beginning in January 2022, ADNOC was the first hydrocarbon company to source 100% of its grid energy from clean nuclear and solar power. And, it is expanding its use of clean grid power offshore, by building a $3.6 billion, first-of-its-kind, sub-sea transmission network in the Middle East and North Africa (MENA) region. Once completed, it will connect ADNOC’s offshore operations to the UAE’s electricity grid, supplying power from nuclear and solar energy to replace existing gas turbine generators and significantly reduce ADNOC’s offshore greenhouse gas emissions by more than 30%.
ADNOC, together with the Abu Dhabi National Energy Company PJSC (TAQA) and Mubadala Investment Company, has formed a partnership, under the Abu Dhabi Future Energy Company (Masdar) brand, which targets well over 100GW of renewable energy by 2030. The expanded Masdar entity will become one of the largest clean energy companies of its kind in the world, as it grows its world-class portfolio of renewable energy and green hydrogen projects.
Al Kaabi is currently Chief Executive Officer of the UAE Investments platform at Mubadala Investment Company PJSC (Mubadala), the Abu Dhabi sovereign investor. Prior to that, he was the CEO of the Petroleum & Petrochemicals platform from 2017 to 2020, and the CEO of Mubadala Petroleum between 2014 and 2017. He began his career at ADNOC, where he spent 16 years in a series of senior roles across the core of ADNOC’s business.
