The Abu Dhabi National Oil Company (ADNOC) has announced an accelerated decarbonisation plan, aiming to achieve net-zero emissions by 2045, five years ahead of its previous target. This ambitious move was approved during a meeting chaired by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.

ADNOC’s commitment to sustainability and decarbonisation is not new. The company has been investing billions in such projects since its inception. The recent allocation of USD15 billion will expedite key decarbonisation initiatives, including carbon capture and storage, electrification, energy efficiency, and nature-based solutions.

The company’s decarbonisation plan includes a USD3.8 billion project to connect offshore operations to clean grid power, reducing its offshore carbon footprint by up to 50%. Additionally, ADNOC plans to build a 1 million tonne per annum low-carbon ammonia production facility to assist its customers in decarbonising.

ADNOC’s industry-leading methane intensity was approximately 0.07% in 2022, and the company achieved greenhouse gas emissions reductions of around 4 million tonnes through various initiatives. The company’s efforts align with the UAE’s updated Nationally Determined Contribution, which aims for a 40% reduction in nationwide emissions by 2030.

The company’s decarbonisation efforts extend to its shareholding in the Abu Dhabi Future Energy Company (Masdar), a leading renewable energy company. Masdar targets a portfolio of more than 100 gigawatts (GW) of renewable capacity and the production of one million tonnes of green hydrogen by 2030.