Abu Dhabi National Oil Company (Adnoc) has announced the signing of strategic framework agreements with top energy groups bp and Masdar to expand upon the UAE and UK’s longstanding track record of bilateral partnership in sustainability, including the potential development of clean hydrogen hubs in both the UK and UAE at a scale of at least 2 gigawatts (GW).
The framework agreements were signed on the sidelines of the official visit of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to the UK.
These pacts underscore the partners’ leadership in technology-driven solutions to the global climate challenge as well as a shared commitment to driving new economic opportunity through decarbonization, both domestically and abroad.
The agreements were signed by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Adnoc Managing Director and Group CEO, and Masdar Chairman, and Bernard Looney, bp Chief Executive Officer.
Commenting on the deals, Dr Al Jaber said: "The UK and UAE have enjoyed decades of strong economic ties and the agreements signed between Adnoc, Masdar and bp will serve to deepen the strategic relationship between our countries."
"We look forward to building upon this legacy to strengthen both countries’ ambitions to generate economic growth through low-carbon initiatives. These initiatives will make a direct contribution to the ‘Principles of the 50,’ the economic blueprint for sustainable growth recently announced by the UAE’s leadership," he added.
Looney pointed out that the UK and UAE governments have bold plans for decarbonization.
"The UK is our home and we have worked in the UAE for nearly a century. By partnering with the visionary leaders of Adnoc and Masdar, we see massive business opportunity to generate the clean energy the world wants and needs – and at the same time revitalize local economies and create the jobs of the future," he stated.
Under the terms of the agreements, Adnoc, bp and Masdar will seek to collaborate on UK and UAE clean hydrogen hub development at an initial scale of 1GW in the UAE and 1GW in the UK, building on the UAE’s position as an anchor investor in some of the UK’s largest offshore wind projects.
The hydrogen agreements, he stated, also align with the UK’s recently announced commitment to achieve 5GW of low-carbon hydrogen by 2030 and the UAE’s Nationally Determined Contribution of reducing greenhouse gas emissions by 23.5% compared to business as usual for 2030.
Adnoc and bp will also, as part of the agreements, jointly identify areas for potential partnership in greenfield carbon capture and underground storage and best-in-class methane detection platforms.
Further, Masdar and bp will together explore opportunities to develop, build and operate sustainable energy and mobility solutions in urban population centers, he added.-TradeArabia News Service