Credits By: The National News
Hajime Mori, the managing director of Sumitomo Corporation Middle East, emphasized the significant potential of Carbon Capture and Storage (CCS) in the Middle East as a pivotal technology to facilitate the energy transition.
In January, the Abu Dhabi National Oil Company (Adnoc) embarked on a groundbreaking project to inject captured carbon dioxide into a saline aquifer—a formation of porous rocks containing brine.
Adnoc, based in Abu Dhabi, has allocated a substantial $15 billion investment for various projects by 2030, aiming to accelerate its low-carbon growth strategy. Among the focus areas are clean power initiatives, carbon capture and storage, the continued electrification of operations, energy efficiency measures, and adopting new practices to reinforce its zero routine gas flaring policy.
According to McKinsey & Co., global carbon capture, utilization, and storage uptake must increase 120-fold from current levels by 2050. This means capturing at least 4.2 gigatonnes per annum of carbon dioxide to fulfill countries’ net-zero commitments. Such a scale of expansion is critical to combating climate change and achieving environmental goals worldwide.