{"id":74084,"date":"2022-09-26T02:04:26","date_gmt":"2022-09-26T02:04:26","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/"},"modified":"2022-09-26T02:04:26","modified_gmt":"2022-09-26T02:04:26","slug":"adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/","title":{"rendered":"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive"},"content":{"rendered":"

<\/a> Adnoc and Abu Dhabi\u2019s Taqa reach financial close on USD 3.8 bn <\/strong>subsea <\/strong>energy <\/strong>transmission project:<\/strong> State-owned Abu Dhabi National Oil Company (Adnoc) and government-controlled Abu Dhabi National Energy Company (Taqa) have reached financial close on a USD 3.8 bn project that will see them build what they say is a \u201cfirst-of-its-kind\u201d subsea transmission network in MENA, designed to reduce emissions at its offshore production facilities, according to a statement<\/a> from Adnoc published on Friday. The high-voltage direct current (HVDC) transmission system will include two subsea links and converter stations and will have a total installed capacity of 3.2 GW. Construction began in early 2022<\/a> and is expected to begin operations in 2025.<\/p>\n

But Enterprise, how exactly does using a subsea transmission network slash <\/strong>emissions at offshore production infrastructure? <\/strong>Offshore platforms usually generate their own electricity through gas turbines or diesel generators \u2014 but replacing these onboard generating systems with power from the mainland transmitted through subsea cables can significantly reduce CO2 emissions<\/a>. Because of their design, HVDC subsea cables are particularly effective in transmitting energy over long distances<\/a> in an energy-efficient way.<\/p>\n

A<\/strong>dnoc says its network will be powered with more sustainable energy sources: <\/strong>The statement says that the project will replace Adnoc\u2019s existing offshore gas turbine generators with \u201cmore sustainable power sources\u201d but doesn\u2019t disclose where it will get its energy from.<\/p>\n

Who\u2019s involved<\/strong>:<\/strong> Adnoc and Taqa will be joined by a consortium consisting of Korea Electric Power (KEPCO), Kyushu Electric Power Company (Kyuden) and France\u2019s EDF. Adnoc and Taqa each own a 30% stake in the project, while the consortium collectively owns the remaining 40% stake.<\/p>\n

Higher interest rates are driving up the costs: <\/strong>The total cost of the project is now USD 3.8 bn, up from the USD 3.6 bn figure first announced in December 2021 because of higher interest rates, the statement says.<\/p>\n","protected":false},"excerpt":{"rendered":"

Adnoc and Abu Dhabi\u2019s Taqa reach financial close on USD 3.8 bn subsea energy transmission project: State-owned Abu Dhabi National Oil Company (Adnoc) and government-controlled Abu Dhabi National Energy Company (Taqa) have reached financial close on a USD 3.8 bn project that will see them build what they say is a \u201cfirst-of-its-kind\u201d subsea transmission network […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[257],"tags":[925,80,74,11,927,924,926,281,923],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74084","post","type-post","status-publish","format-standard","hentry","category-decarbonization","tag-lectricit-de-france-edf","tag-adnoc","tag-decarbonization","tag-enterpriseclimate","tag-kepco","tag-kyuden","tag-sub-sea-transmission-network","tag-taqa","tag-transco","wpautop","entry"],"acf":{"mongo_id":"01a05f9a-2ffa-49f4-bde1-77beefe49745","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[74076],"teaser":"","voice_url":""},"yoast_head":"\nAdnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive\" \/>\n<meta property=\"og:description\" content=\"Adnoc and Abu Dhabi\u2019s Taqa reach financial close on USD 3.8 bn subsea energy transmission project: State-owned Abu Dhabi National Oil Company (Adnoc) and government-controlled Abu Dhabi National Energy Company (Taqa) have reached financial close on a USD 3.8 bn project that will see them build what they say is a \u201cfirst-of-its-kind\u201d subsea transmission network […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-26T02:04:26+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive\",\"datePublished\":\"2022-09-26T02:04:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/\"},\"wordCount\":320,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"keywords\":[\"Électricité de France (EDF)\",\"ADNOC\",\"decarbonization\",\"EnterpriseClimate\",\"Kepco\",\"Kyuden\",\"sub-sea transmission network\",\"TAQA\",\"Transco\"],\"articleSection\":[\"DECARBONIZATION\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/\",\"name\":\"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive - Climate\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#website\"},\"datePublished\":\"2022-09-26T02:04:26+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/climate\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#website\",\"url\":\"https:\/\/enterpriseam.com\/climate\/\",\"name\":\"Climate\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/climate\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\",\"name\":\"Climate\",\"url\":\"https:\/\/enterpriseam.com\/climate\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/25470.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/25470.svg\",\"caption\":\"Climate\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive - Climate","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/","og_locale":"en_US","og_type":"article","og_title":"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive","og_description":"Adnoc and Abu Dhabi\u2019s Taqa reach financial close on USD 3.8 bn subsea energy transmission project: State-owned Abu Dhabi National Oil Company (Adnoc) and government-controlled Abu Dhabi National Energy Company (Taqa) have reached financial close on a USD 3.8 bn project that will see them build what they say is a \u201cfirst-of-its-kind\u201d subsea transmission network […]","og_url":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/","og_site_name":"Climate","article_published_time":"2022-09-26T02:04:26+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive","datePublished":"2022-09-26T02:04:26+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/"},"wordCount":320,"publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"keywords":["Électricité de France (EDF)","ADNOC","decarbonization","EnterpriseClimate","Kepco","Kyuden","sub-sea transmission network","TAQA","Transco"],"articleSection":["DECARBONIZATION"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/","url":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/","name":"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive - Climate","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/#website"},"datePublished":"2022-09-26T02:04:26+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/climate\/2022\/09\/26\/adnoc-hits-financial-close-on-a-usd-3-8-bn-project-to-make-its-offshore-operations-less-carbon-intensive\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/climate\/"},{"@type":"ListItem","position":2,"name":"Adnoc hits financial close on a USD 3.8 bn project to make its offshore operations less carbon intensive"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/climate\/#website","url":"https:\/\/enterpriseam.com\/climate\/","name":"Climate","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/climate\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/climate\/#organization","name":"Climate","url":"https:\/\/enterpriseam.com\/climate\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/25470.svg","contentUrl":"https:\/\/ent.news\/internal\/25470.svg","caption":"Climate"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pgVl2y-jgU","_links":{"self":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts\/74084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/comments?post=74084"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts\/74084\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/issue\/74076"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/media?parent=74084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/categories?post=74084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/tags?post=74084"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/brand?post=74084"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=74084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}