UAE’s ADNOC Awards Contracts for Net-Zero Emissions Gas Project Ahead of COP28
The Abu Dhabi National Oil Company (ADNOC) has announced the award of contracts for its Hail and Ghasha offshore gas projects, stating its ambition to operate the project with net-zero emissions.
October 09, 2023. By News Bureau
The two contracts, valued at a total of USD 16.9 billion, were awarded to a joint venture between the National Petroleum Construction Company in Abu Dhabi and Italy's Saipem, as well as to the Italian company Tecnimont for onshore infrastructure.
The Hail and Ghasha projects are part of the Ghasha concession in Abu Dhabi and aim to produce over 1.5 billion cubic feet of gas per day by 2030. ADNOC has pledged to use 'innovative decarbonisation technologies' to capture and store 1.5 million tones of CO2 annually.
The move comes just weeks before the United Arab Emirates hosts the COP28 climate conference.
While the appointment of ADNOC's head, Sultan al-Jaber, as chair of the conference has drawn criticism from environmentalists, the company maintains that it is 'at the heart of the solution' to climate change and that a gradual phase-out of fossil fuels is 'inevitable and essential'.
In July, ADNOC committed to achieving carbon neutrality for its own operations by 2045, but critics argue that this target does not account for the emissions produced by the hydrocarbons exported and burned by customers, which constitute the majority of the company's carbon footprint.
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