Abu Dhabi and BP announced three deals covering plans to develop clean energy projects in the UAE and the UK. The plans include investments in hydrogen, carbon capture, and sustainable aviation. Under the deals, BP, ADNOC, and Masdar will cooperate in developing an initial 2 GW of low-carbon hydrogen production capacity in the two countries. They will also create a “decarbonized air corridor” for flights between the UK and the UAE.
BP and Masdar will also study the feasibility of establishing sustainable energy and mobility solutions in cities in both countries. Meanwhile, BP and ADNOC will explore ways to cut the carbon intensity of their existing oil and gas operations, including by developing Carbon Capture, Utilization & Storage (CCUS) hubs.
The agreements are part of the oil-rich emirate to diversify its economy away from oil by partnering with major energy companies. Previously, Abu Dhabi’s state-owned Mubadala Petroleum announced that it would team up with Italian energy company Eni to identify cooperation opportunities in carbon capture, utilization and storage (CCUS) and hydrogen businesses in the Middle East, North Africa, Southeast Asia, and Europe.
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Published on September 17, 2021 4:36 PM (GMT+8)Last Updated on September 17, 2021 4:36 PM (GMT+8)
