ADNOC announces hydrogen, carbon management collaboration
06 December 2023
Agreement builds on strategic bilateral energy cooperation between the UAE and Azerbaijan across renewable energy and natural gas
ADNOC and the State Oil Co. of Azerbaijan Republic (SOCAR) will collaborate on the potential development of low carbon energy technologies.
The companies will work on advancing blue hydrogen, carbon management and geothermal technologies that can accelerate the decarbonization of energy systems in the UAE, Azerbaijan and other key markets and support their net zero ambitions.
The agreement follows both ADNOC and SOCAR becoming founding signatories of the Oil and Gas Decarbonization Charter, signed at COP28, that sets shared targets to eliminate routine flaring and zero out methane emissions by 2030 and achieve net zero by 2050.
Musabbeh Al Kaabi, ADNOC executive director, Low Carbon Solutions and International Growth, said this latest collaboration with SOCAR underscores the importance of the industry working together to advance low-carbon solutions and accelerate decarbonization.
“Through this agreement, ADNOC and SOCAR will leverage our combined knowledge, experience and expertise to advance promising hydrogen, carbon management and geothermal technologies that could make a tangible difference as the world takes bold steps to decarbonize energy value chains,” he said.
The agreement builds on the strategic bilateral energy cooperation between the UAE and Azerbaijan, including the 30% stake held by ADNOC in the Absheron gas and condensate field in the Azerbaijan sector of the Caspian Sea. It also builds on ADNOC’s shareholding in Abu Dhabi Future Energy Co. (Masdar). Recently, Masdar inaugurated the 230 MW Garadagh Solar Park in Azerbaijan, which is the region’s largest operational solar park.
“This partnership highlights our unwavering commitment to advancing the energy transition and reinforces the strong bilateral ties between SOCAR and ADNOC,” said Afgan Isayev, SOCAR vice president for Energy Transition, Environment and Decarbonization. “By formalizing our commitment through the signing of the Oil & Gas Decarbonization Charter at COP28, we affirm our proactive stance towards eliminating flaring, mitigating methane emissions and achieving net-zero emissions by 2050. This collaboration signifies our collective pursuit of a greener future, leveraging our combined expertise for sustainable energy practices. This partnership highlights our unwavering commitment to advancing the energy transition and reinforces the strong bilateral ties between SOCAR and ADNOC.”
ADNOC has initially allocated US$15 billion to advance and accelerate lower-carbon solutions, new energies and decarbonization technologies as it reduces its carbon intensity by 25% by 2030 and works towards net zero by 2045. ADNOC is also targeting carbon dioxide (CO2) capture capacity of 10 million tonnes per annum (mtpa) by 2030.