The global platform is aimed at supporting customers across Asia-Pacific to achieve their net-zero goals.
Under the alliance, ADNOC and Santos will work together to develop vital CCS technologies to hasten decarbonisation.
The parties will also look into the possibility of setting up a network of infrastructure to ship and transport carbon dioxide (CO₂).
According to the United Arab Emirates (UAE) Government-owned oil and gas company, the said infrastructure will enable heavy-emitting industries to capture, ship and permanently store CO₂.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Currently, ADNOC operates the Al Reyadah facility, which can process up to 800,000 tonnes of CO₂ annually.
ADNOC executive-director of low carbon solutions and international growth Musabbeh Al Kaabi said: “Through this partnership, ADNOC and Santos will work together aiming to scale up the carbon management technologies of the future while leveraging our combined expertise and experience in safely transporting, capturing and storing carbon to help markets in the Asia-Pacific decarbonise.”
Santos energy solutions executive vice-president Alan Stuart-Grant said: “Large scale-up of CCS is required to meet the world’s climate objectives and companies like Santos and ADNOC have the technology, infrastructure and knowledge to be able to deliver low-cost CCS and low-carbon energy competitively on a global scale.
“There is an enormous opportunity for traditional energy suppliers like Australia and the UAE to be at the forefront of helping regional decarbonisation through utilisation of our natural competitive advantages in carbon storage and energy supply chains.”
By 2030, ADNOC aims to have 10mtpa of capacity for carbon capture.
In September, ADNOC announced the final investment decision (FID) for its Habshan CCS project, which will capture and store up to 1.5mtpa of CO₂.
The FID was announced shortly after ADNOC’s alliance with US-based energy company Occidental.
ADNOC and Occidental have agreed to work together on CCS in the US and the UAE.