Adnoc, Taqa plan $3.6bn project to decarbonise offshore ops

Adnoc, Taqa plan $3.6bn project to decarbonise offshore ops

Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi National Energy Company (Taqa) have announced a $3.6 billion strategic project to significantly decarbonise Adnoc’s offshore production operations, further strengthening their position in driving and leading sustainability efforts and supporting the UAE ‘Net-Zero by 2050 Strategic Initiative’.

 

The innovative project will see the development and operation of a first-of-its-kind high-voltage, direct current (HVDC-VSC) subsea transmission system in the Middle East and North Africa region. 

 

It will power Adnoc’s offshore production operations with cleaner and more efficient energy, delivered through the Abu Dhabi onshore power grid, owned and operated by Taqa’s transmission and distribution companies.

 

The transmission system will have a total installed capacity of 3.2 Gigawatts (GW) and comprise two independent sub-sea HVDC links and converter stations that will connect to Taqa’s onshore electricity grid – operated by its subsidiary, Abu Dhabi Transmission and Despatch Company (Transco). 

 

The project will be funded through a special purpose vehicle (SPV), a dedicated company that will be jointly owned by the duo with 30% stake each, and a consortium comprising Korea Electric Power Corporation (Kepco), Japan’s Kyushu Electric Power Company and Électricité de France (EDF). 

 

This project offers the potential for Adnoc to more effectively utilise its rich gas