CEOforLIFE

CONTACTS

No Result
View All Result
CEOforLIFE
  • CEOs
    • CEOs HUB
    • CEOs TALKS
    • CEOs AGENDA
    • CEOs MAGAZINE
  • SDGs
    • PROJECTS
    • FORUM
    • AMBASSADORS
    • INSTITUTIONS
  • NOMINATION
    • NOMINATION by Countries
    • NOMINATION by SDGs
  • CEOforLIFE AWARDS
    • Global Awards 2022 – Emirates
  • COUNTRIES
    • GLOBAL
      • AUSTRALIA
      • DENMARK
      • GERMANY
      • ITALY
      • JAPAN
      • MALAYSIA
      • SINGAPORE
      • SPAIN
      • SWITZERLAND
      • UNITED ARAB EMIRATES
      • UNITED KINGDOM
      • UNITED STATES
  • VISION
    • HOW IT WORKS
    • MANIFESTO
    • MISSION
  • JOIN
CEOforLIFE
  • CEOs
    • CEOs HUB
    • CEOs TALKS
    • CEOs AGENDA
    • CEOs MAGAZINE
  • SDGs
    • PROJECTS
    • FORUM
    • AMBASSADORS
    • INSTITUTIONS
  • NOMINATION
    • NOMINATION by Countries
    • NOMINATION by SDGs
  • CEOforLIFE AWARDS
    • Global Awards 2022 – Emirates
  • COUNTRIES
    • GLOBAL
      • AUSTRALIA
      • DENMARK
      • GERMANY
      • ITALY
      • JAPAN
      • MALAYSIA
      • SINGAPORE
      • SPAIN
      • SWITZERLAND
      • UNITED ARAB EMIRATES
      • UNITED KINGDOM
      • UNITED STATES
  • VISION
    • HOW IT WORKS
    • MANIFESTO
    • MISSION
  • JOIN
No Result
View All Result
CEOforLIFE
Home CEOs HUB Robin Mills

UAE oil giant signs nuclear, solar power supply deal, but analysts call for specifics.

UAE oil giant ADNOC reveals plan to power its grid with nuclear and solar energy, but avoids specifics on emissions impact

9 November 2021
Reading Time: 3 mins read
0 0
UAE oil giant signs nuclear, solar power supply deal, but analysts call for specifics.
0
SHARES
11
VIEWS
Share on LinkedinShare on Twitter

Energy experts believe the Abu Dhabi National Oil Company’s (ADNOC) plan to power its facilities with solar and nuclear energy beginning next year is “groundbreaking,” but more data is required to fully comprehend the impact on emissions. ADNOC, which exports over 3 million barrels of oil per day, has inked a supply agreement with the Emirates Water and Electricity Company (EWEC) to deliver 100 percent of its grid electricity from nuclear and solar energy beginning in January 2022. “With this historic clean energy agreement with EWEC, ADNOC will become the first major oil and gas firm to decarbonize its electricity on a large scale,” stated Sultan Al Jaber, Managing Director and Group CEO of ADNOC.

Despite the lack of details on how it will function, industry analysts applauded the idea, which will leverage the UAE’s regional leadership in nuclear and solar power development. “Several international oil firms have committed to net zero operating emissions.” “This is fairly innovative in terms of achieving zero carbon power across a whole portfolio,” said Robin Mills, CEO of Qamar Energy, an energy consultant located in the United Arab Emirates.

“I estimate that this might save 7-9 Mt (million metric tonnes) of CO2 emissions each year.” “Perhaps more if applied to downstream industries,” Mills stated. The report comes at a time when big oil is facing increased investor criticism over its climate goals. Companies such as ADNOC and Saudi Aramco have unveiled climate measures only days before the COP26, while also investing to enhance oil output in the future years.

A critical step
While the ADNOC-EWEC collaboration was important, it did not explain how the clean power agreement would be executed or provide exact information on the amount of emissions it was projected to save. “Ahead of COP26, ADNOC wants to highlight progress on decreasing emissions and decarbonizing its oil and gas activities,” Ben Cahill, Senior Fellow at the Center for Strategic and International Studies, told CNBC. “If ADNOC provided hard statistics, this declaration would be more relevant,” Cahill remarked. Cahill stated that further information was required to determine how its “Scope 1” and “Scope 2” emissions — two main categories of emissions created by a company’s own activities and in its wider value chain — would be impacted. “As they flesh out their sustainability strategies,” Cahill said, “they’ll have to provide more data.”

So-called “Scope 3” emissions, which are subject to confusing reporting rules across the sector and are by far the most polluting, continue to be the most difficult for the industry as a whole to handle. BP, the British oil company, stated aims to achieve net zero emissions throughout its activities “absolutely” by 2050 or sooner. TotalEnergies, a French company, likewise intends to reduce Scope 1 and 2 emissions by achieving net zero for global operations by 2050. Aramco, Saudi Arabia’s state-owned oil company, wants to be carbon-neutral by 2050.

ADNOC has committed to reducing greenhouse gas emissions intensity by 25% by 2030. According to the corporation, Murban, its flagship crude grade, already has a carbon intensity less than half that of the industry average, and that figure will increase as a result of the deal. “It also directly supports our goal of remaining one of the lowest carbon intensity operators in the oil and gas industry, and demonstrates how hydrocarbons, clean energy, and advanced energy sources can complement each other in the energy transition,” said Al Jaber, who also serves as Minister of Industry and Advanced Technology and the UAE’s special envoy for climate change.

ADNOC’s plan to “decarbonize” its power infrastructure reflects a movement inside the UAE to improve its environmental credentials, after it became the first Gulf state to pledge to eradicating carbon emissions by 2050. “The world continues to require oil and gas, and strong initiatives like these are crucial to decarbonizing our business,” the OPEC Secretariat said in a statement following the news.

UAE’s Minister of State and CEO of the Abu Dhabi National Oil Company Sultan al-Jaber speaks during the opening ceremony of the Abu Dhabi International Petroleum Exhibition and Conference in Abu Dhabi.

 

CEOforLIFE – We promote life. We support the SDGs.
Source: CNBC
Via: CNBC
Tags: SDGs11SDGs17SDGs8SDGs9
Next Post
Middle East keeping capacity in focus

Middle East keeping capacity in focus

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular News

  • 21 Sustainability Innovations That Might Just Change the World

    21 Sustainability Innovations That Might Just Change the World

    0 shares
    Share 0 Tweet 0
  • Bladeless wind turbine that vibrates to generate power could save more than 500,000 birds killed each year by spinning blades, experts say

    0 shares
    Share 0 Tweet 0
  • This company builds sustainable houses using traditional mud-stone technology

    0 shares
    Share 0 Tweet 0
  • Top marks for PUMA’s sustainability efforts 

    0 shares
    Share 0 Tweet 0
  • Generating Electricity with Bladeless Wind Turbines – One Household at a Time

    0 shares
    Share 0 Tweet 0
  • Trending
  • Comments
  • Latest
Bladeless Wind Turbines Could Be The Future Of Green Energy

Bladeless Wind Turbines Could Be The Future Of Green Energy

14 January 2022
Enerkem achieves a major breakthrough by producing sustainable aviation fuel from local forest biomass

Enerkem achieves a major breakthrough by producing sustainable aviation fuel from local forest biomass

2 March 2022
21 Sustainability Innovations That Might Just Change the World

21 Sustainability Innovations That Might Just Change the World

10 November 2021
Bladeless wind turbine that vibrates to generate power could save more than 500,000 birds killed each year by spinning blades, experts say

Bladeless wind turbine that vibrates to generate power could save more than 500,000 birds killed each year by spinning blades, experts say

27 January 2022
Wiggling Wind Power

Wiggling Wind Power

Class A biosolids and the future of biosolids management

Class A biosolids and the future of biosolids management

Bladeless wind turbine that vibrates to generate power could save more than 500,000 birds killed each year by spinning blades, experts say

Bladeless wind turbine that vibrates to generate power could save more than 500,000 birds killed each year by spinning blades, experts say

What is a “carbon border adjustment mechanism”?

What is a “carbon border adjustment mechanism”?

H&M and Decathlon will make donations and scale back sustainability claims in order to avoid a Dutch Greenwashing crackdown.

H&M and Decathlon will make donations and scale back sustainability claims in order to avoid a Dutch Greenwashing crackdown.

16 September 2022
According to Amazon’s cloud CEO, sustainability and profits “do not have to be at odds.”

According to Amazon’s cloud CEO, sustainability and profits “do not have to be at odds.”

15 September 2022
Pots & Co replaces ceramic pots with glass to strengthen sustainability

Pots & Co replaces ceramic pots with glass to strengthen sustainability

14 September 2022
Google has one of the most ambitious sustainability programmes in Big Tech. Here’s its three-step strategy for saving the earth.

Google has one of the most ambitious sustainability programmes in Big Tech. Here’s its three-step strategy for saving the earth.

13 September 2022

EDITORIAL BOARD

  • About us
  • Join
  • The Magazine

CATEGORIES

  • SDGs
  • CEOforLIFE AWARDS
  • NOMINATION
  • JOIN
Read the magazine
  • Cookie Policy
  • Privacy Policy

© 2021 GFA GENERAL MANAGEMENT S.R.L. | P.IVA 11182700960

No Result
View All Result
  • CEOs
    • CEOs HUB
    • CEOs TALKS
    • CEOs AGENDA
    • CEOs MAGAZINE
  • SDGs
    • PROJECTS
    • FORUM
    • AMBASSADORS
    • INSTITUTIONS
  • NOMINATION
    • NOMINATION by Countries
    • NOMINATION by SDGs
  • CEOforLIFE AWARDS
    • Global Awards 2022 – Emirates
  • COUNTRIES
    • GLOBAL
      • AUSTRALIA
      • DENMARK
      • GERMANY
      • ITALY
      • JAPAN
      • MALAYSIA
      • SINGAPORE
      • SPAIN
      • SWITZERLAND
      • UNITED ARAB EMIRATES
      • UNITED KINGDOM
      • UNITED STATES
  • VISION
    • HOW IT WORKS
    • MANIFESTO
    • MISSION
  • JOIN

© 2021 GFA GENERAL MANAGEMENT S.R.L. | P.IVA 11182700960

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}