ADNOC makes its FID on landmark CCS project
ABU DHABI, September 7, 2023 – ADNOC has made its FID on what will be one of the largest CCS projects in the MENA region, the Emirati NOC announced on Thursday.
The carbon capture, utilisation and storage project will be located at the Habshan gas processing plant and will consist of carbon capture units, pipeline infrastructure and a network of carbon dioxide injection wells.
It will have the capacity to capture and permanently store 1.5 million tonnes of carbon dioxide per year.
The project will utilise closed-loop carbon dioxide capture and reinjection technology.
The asset will be operated by the company’s gas unit, ADNOC Gas.
Cost and expected completion date of the project was not disclosed, although Upstream Online understands that capital expenditure could be upwards of USD 500 million.
The development will triple ADNOC’s CCS capabilities to 2.3 million tonnes of carbon dioxide per year.
ADNOC recently peeled back its target to have net-zero carbon emissions to 2045.
In January 2023, the company allocated USD 15 billion towards decarbonisation projects by 2030.
UAE will be hosting the 28th Conference of the Parties of the UN Framework Convention on Climate Change or COP28 in Dubai from November 30 to December 12, 2023.