ADNOC accelerates decarbonization plans with 2045 net zero goal
(WO) – ADNOC is accelerating its decarbonization plan to bring forward its net zero ambition to 2045, from its previous target of 2050, and to achieve zero methane emissions by 2030. ADNOC is the first company in its peer group to accelerate its net zero target to 2045.
These new targets mark a new chapter in ADNOC’s journey to a lower-carbon future. The company has placed sustainability at the heart of its long-term strategy, including investing in renewables, building a global hydrogen value chain and deploying innovative climate technology solutions.
In 2022, ADNOC’s upstream carbon intensity performance was approximately 7 kgCO2e/boe as it responsibly contributed to meeting growing global energy demand. Furthermore, its industry leading methane intensity was approximately 0.07%, and the company was awarded the Gold Standard Pathway by the Oil and Gas Methane Partnership 2.0.
Additionally, in 2022 ADNOC achieved greenhouse gas (GHG) emissions reductions of roughly 4mt by using grid energy from solar and nuclear power to supply 100% of its onshore operations as well as about 1mt from energy efficiency and flaring reduction projects. These results, independently assured by DNV, place ADNOC in the top tier of lowest carbon intensity oil and gas producers in the world.
ADNOC is a key enabler of the UAE’s updated Nationally Determined Contribution (NDC), which raises the ambition of the UAE’s nationwide emissions reduction ambition to 40% by 2030. The company is also playing an important role in supporting the UAE’s recently updated Energy Strategy 2050, its new National Hydrogen Strategy and Abu Dhabi’s Climate Change Strategy.
ADNOC’s commitment to sustainability and decarbonization dates back to the company’s founding. Building on billions of dollars of investments in decarbonization and sustainability projects since its inception, ADNOC recently made an initial allocation of $15 billion to expedite the implementation of its key decarbonization initiatives, including carbon capture and storage, electrification, energy efficiency and nature-based solutions. Over the coming months, ADNOC will announce further investments and associated projects that will enable it to meet its updated ambitious decarbonization targets.
ADNOC will drive the global growth of renewable energy and green hydrogen through its shareholding in the Abu Dhabi Future Energy Company (Masdar). Masdar is a leading renewable energy company, targeting a portfolio of more than 100 GW of renewable capacity and the production of 1 million tonnes of green hydrogen by 2030.
ADNOC’s decarbonization plan includes a $3.8 billion, first-of-its-kind at scale, project connecting its offshore operations to clean grid power, which will reduce its offshore carbon footprint by up to 50%. It also includes building a 1 million tonnes per annum low-carbon ammonia production facility to help ADNOC’s customers decarbonize.
This year, ADNOC started two pilot projects to deploy leading climate technologies to capture and permanently store carbon dioxide (CO2) as part of its plan to expand its carbon capture capacity to 5 million tonnes per annum by 2030.
For over 50 years, ADNOC has led the industry in eliminating routine flaring and has deployed leading technologies, advanced monitoring and industry-leading practices to substantially reduce methane emissions across its operations.
Last year, ADNOC established a Low Carbon Solutions and International Growth Directorate to identify opportunities and drive forward its decarbonization plans, building off the company’s successful track record of responsibly and reliably supplying energy to the world.