UAE and Japan sign deal to explore CCS activities

ABU DHABI, July 27, 2023 – Emirati state-owned Sharjah National Oil Corporation and Japanese trading company Sumitomo Corporation have signed a deal to pursue a CCS project in the emirate of Sharjah, UAE, Reuters reported on Tuesday.

The agreement includes conducting a feasibility study that covers transport, storage and regulations.

The development involves capturing carbon dioxide from industrial and power generation facilities and storing it in a mature onshore gas field.

Sharjah National Oil Corporation aims to have net-zero carbon emissions by 2032 ahead of the national goal of having net-zero carbon emissions by 2050.

In January, UAE’s leading oil and gas company ADNOC allocated USD 15 billion towards decarbonisation projects by 2030.

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