ADNOC announces a $17 billion investment in the Hail and Ghasha offshore gas project, aspiring for it to be the world's inaugural net-zero emissions gas venture.
ADNOC awarded $17 billion worth of contracts as it announced on Thursday the final investment decision to develop the Hail and Ghasha offshore gas project which the United Arab Emirates’ energy giant aims to be the world’s first such project operating with net-zero emissions.
5 million tonnes per year mtpa of CO2, taking ADNOC’s committed investment for carbon capture capacity to almost 4 mtpa. The CO2 will be captured, transported onshore and safely stored underground, while low-carbon hydrogen is produced that can replace fuel gas and further reduce emissions. The project will also use clean power from nuclear and renewable sources from the grid.
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