ADNOC, the national oil company of the United Arab Emirates (UAE), has announced that it is accelerating its decarbonization efforts. The company has brought forward its net zero target from 2050 to 2045 and aims to achieve zero methane emissions by 2030. ADNOC is the first company in its peer group to accelerate its net zero target to 2045.
Sustainability has been placed at the core of ADNOC’s long-term strategy. The company has been investing in renewables, developing a global hydrogen value chain, and implementing innovative climate technology solutions. In 2022, ADNOC’s upstream carbon intensity performance was approximately 7 kgCO2e/boe, and its methane intensity was approximately 0.07%. The company received the Gold Standard Pathway by the Oil and Gas Methane Partnership 2.0 for its industry-leading methane reduction efforts.
ADNOC also achieved significant greenhouse gas (GHG) emissions reductions in 2022. It used grid energy from solar and nuclear power to supply 100% of its onshore operations, resulting in a reduction of approximately 4mt of GHG emissions. ADNOC’s focus on energy efficiency and flaring reduction projects also contributed to emissions reductions of about 1mt. These results, independently verified by DNV, position ADNOC as one of the lowest carbon intensity oil and gas producers globally.
Furthermore, ADNOC is supporting the UAE’s updated emissions reduction targets, which aim for a 40% reduction by 2030. The company is also playing a crucial role in the UAE’s Energy Strategy 2050, National Hydrogen Strategy, and Abu Dhabi’s Climate Change Strategy.
ADNOC has allocated $15 billion to accelerate the implementation of its decarbonization initiatives, including carbon capture and storage, electrification, energy efficiency, and nature-based solutions. The company’s shareholding in Masdar, a leading renewable energy company, will further drive the growth of renewable energy and green hydrogen.
ADNOC’s specific decarbonization plans include a $3.8 billion project to connect its offshore operations to clean grid power, reducing its offshore carbon footprint by up to 50%, and the construction of a low-carbon ammonia production facility. The company has also started two pilot projects to capture and store carbon dioxide (CO2) and aims to expand its carbon capture capacity to 5 million tonnes per annum by 2030.
With over 50 years of experience in reducing routine flaring and methane emissions, ADNOC has established a dedicated directorate to drive its decarbonization plans and identify new opportunities. The company remains committed to responsibly and reliably supplying energy to the world while addressing climate change challenges.