{"id":79787,"date":"2023-10-02T01:47:23","date_gmt":"2023-10-02T01:47:23","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/adnoc-doubles-carbon-capture-goal-ahead-of-cop28\/"},"modified":"2023-10-02T01:47:23","modified_gmt":"2023-10-02T01:47:23","slug":"adnoc-doubles-carbon-capture-goal-ahead-of-cop28","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/adnoc-doubles-carbon-capture-goal-ahead-of-cop28\/","title":{"rendered":"Adnoc doubles carbon capture goal ahead of COP28"},"content":{"rendered":"

NET ZERO-<\/strong><\/p>\n

<\/a> Adnoc <\/strong>outlines accelerated<\/strong> roadmap to carbon neutrality by 2045<\/strong>: <\/strong>Abu Dhabi National Oil Company (Adnoc) is planning to reach net zero by 2045, instead of its originally planned 2050, and double its carbon capture capacity by 2030, the oil and gas giant said in a statement<\/a>. The strategy involves an initial investment of AED 55 mn (USD 15 mn) for related projects and entails: Linking its seabound operations to a clean electricity grid, which should slash its emissions from maritime activities by 50%; increasing its carbon capture capacity to 10 mn tons by 2030; and building a low-carbon ammonia plant with an annual capacity of 1 mn tons.<\/p>\n

SOLAR-<\/strong><\/p>\n

Construction kicks off on Sabic\u2019s 187 MW solar plant in Texas:<\/strong> BP has begun construction on its 187 MW Peacock Solar project in Texas, which will power a manufacturing facility owned by Gulf Coast Growth Ventures<\/a> \u2014 a JV between Saudi Basic Industries Corporation (Sabic<\/a>) and US oil giant ExxonMobil<\/a>, according to company statement<\/a> last week. The manufacturing facility will produce clothes, food containers, packaging, agricultural film, and construction materials, according to the statement. Once complete, the solar plant will generate enough renewable energy to power the equivalent of 34k homes annually, and will provide more than USD 25 mn in tax revenue for the first 25 years of operations. Bp is developing, constructing, and managing the project through its 50\/50 solar JV<\/a> with Lightsource. PCL Construction<\/a> is running the EPC, and will procure ultra-low carbon solar panels and trackers from US-based manufacturers First Solar<\/a> and GameChange Solar<\/a>, respectively.<\/p>\n

GREEN ENERGY-<\/strong><\/p>\n

The Japanese are tapping <\/strong>Egypt\u2019s green fuel potential: <\/strong>A delegation headed by the Japan External Trade Organization (JETRO) visited the Suez Canal Economic Zone (SCZone) for talks on cooperation in green energy projects in the zone, a statement<\/a> by the SCZone said on Sunday. SCZone head Walid Gamal El Din highlighted the zone\u2019s integrated infrastructure and proximity to renewable energy sources. The head of the Japanese delegation said Egypt has the potential to become a renewable energy supply hub in North Africa and a future export hub for green hydrogen, according to the statement.<\/p>\n

REMEMBER- <\/strong>Egypt\u2019s SCZone is looking to expand the scope<\/a> of its green methanol bunkering services in the near future, and Scatec signed an agreement in May<\/a> to set up a green methanol plant in Damietta alongside several local firms at a cost of around USD 450 mn.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n