Masdar spearheads carbon management program in the Middle East
Posted: 29 January 2007
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Carbon management is a major thrust of the Masdar Initiative, the landmark economic development program of the Abu Dhabi government to promote advanced energy and sustainability.
Carbon management, which involves the mitigation of carbon emissions, is rapidly becoming an established global industry – and GCC nations are well-positioned to play a leading role, due to the strong integration of CO2 into their oil and gas industries.
Masdar’s approach to carbon management is primarily focused on providing market-driven incentives by monetizing emission reduction under the Clean Development Mechanism framework of the Kyoto Protocol (CDM) and advancing sustainable infrastructure projects, leading to sizeable carbon emission reduction – with a particular focus on CO2 capture and storage (CCS).
Sultan Ahmed Al Jaber, CEO of Abu Dhabi Future Energy Company (ADFEC), the company executing the Masdar Initiative, said: “Promoting greenhouse gas emission reduction is a major element in Masdar’s drive to provide a sustainable environment for coming generations. Masdar aims to lead an estimated US$ 7 billion CDM market in the Middle East and North Africa , harnessing the Abu Dhabi government’s commitment – and private investment – to capture the rapidly-closing Kyoto Protocol’s window of opportunity”.
To meet its CDM targets and capture the growing momentum of the carbon market, Masdar is developing a broad portfolio of energy-focused CDM projects, backed by strategic alliances with international industry experts and trading firms. Masdar is also forging alliances with key governmental organizations, so as to raise public awareness and assure faster access to regional markets.
A key project being developed by Masdar is its Abu Dhabi-based carbon capture and storage (CCS) project, a strategic initiative capable of creating large reductions of CO2 emissions. The CCS project targets CO2 capture from Abu Dhabi ’s major existing (and future) emission sources and its delivery to oilfield operators for enhanced oil recovery.
“CCS is a major initiative that will demonstrate Abu Dhabi ’s global leadership in environmental responsibility. Masdar plays the catalyst role in the project, uniting other Abu Dhabi government stakeholders in a vision to build a regionally-scalable carbon capture and distribution network” Al Jaber added.
A fully-developed CCS network can reduce Abu Dhabi’s annual CO2 emissions by up to 50%, while simultaneously increasing oil production by up to 10% and liberating large quantities of natural gas that are currently re-injected into Abu Dhabi oil reservoirs.
Launched in April 2006, the Masdar Initiative is a landmark program of the government of Abu Dhabi to develop a new economic sector dedicated to sustainable energy and other clean technologies. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), which is wholly-owned by the government of Abu Dhabi through Mubadala Development Company. Mubadala is itself an international investment vehicle of the Abu Dhabi Government. |
