[ad_1]
Abu Dhabi National Oil Co (ADNOC) and Santos Ltd have agreed to work together to develop a joint global carbon management platform supporting the decarbonization journey of customers in the Asia-Pacific.
The two companies entered into a strategic collaboration agreement to advance carbon capture and storage (CCS) technologies that are necessary to accelerate the decarbonization of industry, they said in separate statements Wednesday. They also aim to explore the development of a carbon dioxide shipping and transportation infrastructure network to enable heavy-emitting sectors to capture, ship and permanently store the greenhouse gas.
“ADNOC continues to build on its pioneering role in safely capturing and permanently storing carbon dioxide as we accelerate toward net zero by 2045 and target CCS capacity of 10 million [metric tons] per annum (mmtpa) by 2030”, ADNOC Executive Director for Low Carbon Solutions and International Growth Musabbeh Al Kaabi said. “Through this partnership, ADNOC and Santos will work together aiming to scale-up the carbon management technologies of the future while leveraging our combined expertise and experience in safely transporting, capturing and storing carbon to help markets in the Asia-Pacific decarbonize”.
“Energy companies like Santos and ADNOC have been long-term energy suppliers to the Asian region and key to its energy security, industrial growth and rising living standards”, Santos Energy Solutions Executive Vice President Alan Stuart-Grant said. “Through collaboration, we can accelerate the region’s transition toward a low-carbon future that is both reliable and affordable. There is an enormous opportunity for traditional energy suppliers like Australia and the United Arab Emirates to be at the forefront of helping regional decarbonization through utilization of our natural competitive advantages in carbon storage and energy supply chains”.
“As demand for CO2 transport and storage grows, Santos continues to work with governments to urgently progress the necessary regulatory, fiscal and carbon credit frameworks to support international collaboration on CCS to decarbonize our region”, Stuart-Grant continued. “We know a large scale-up of CCS is required to meet the world’s climate objectives and companies like Santos and ADNOC have the technology, infrastructure and know-how to be able to deliver low-cost CCS and low-carbon energy on a global scale”.
“CCS is a proven technology that is critical to achieving climate goals throughout the region and this agreement with ADNOC positions Santos to accelerate the development and expansion of our CCS portfolio to meet the increasing demand for CCS in the region”, Stuart-Grant concluded.
The agreement follows ADNOC’s recent agreements to explore CCS and direct air capture (DAC) projects in the UAE, and internationally, and supports the company’s wider carbon management strategy, the company said. It is targeting a carbon capture capacity of 10 million tons per annum by 2030, equivalent to taking over 2 million internal combustion vehicles off the road, according to the statement.
In September, ADNOC made the final investment decision to develop a project that will capture 1.5 million tons a year of carbon dioxide emissions from its Habshan natural gas processing facility. The captured carbon dioxide gas that’s captured will be pumped into an oil field where it will be used in enhanced oil recovery. The carbon will then be permanently stored in underground caverns.
In October, Occidental subsidiary 1PointFive and ADNOC signed an agreement to begin a jointly funded preliminary engineering study for a one-million-ton-per-year DAC facility in the United Arab Emirates. The study assesses the feasibility of building the first megaton-scale DAC facility outside the USA using the same carbon dioxide extraction technology to be deployed in the plant 1PointFive is constructing in Ector County, Texas, according to an earlier report. The Texas facility, named Stratos, is designed to include DAC technology developed by Canada-based Carbon Engineering and is expected to capture up to 500,000 tons of carbon dioxide from the atmosphere each year when fully operational.
To contact the author, email rocky.teodoro@rigzone.com
[ad_2]
Source link