Adnoc is growing its CCS portfolio
Adnoc buys into UK CCS developer Storegga
Emirati energy company takes 10.1% stake in first international investment in carbon management sector
Emirati energy company Adnoc has made its first overseas investment in the CCS sector with the purchase of a 10.1% stake in independent UK-based project developer Storegga. The investment, the size of which was not disclosed, formed part of Storegga’s fourth funding round, which also drew further investment from existing shareholders, including Singaporean sovereign wealth fund GIC and Australian bank Macquarie. Adnoc funded its investment from a $15b pot allocated to growing its presence in low-carbon solutions and decarbonisation technologies. The company has set a CCS capacity target of 10mt/yr by 2030. “This strategic investment marks an important milestone in Adnoc’s decarbonisation jou
Also in this section
24 April 2025
Liverpool Bay project on track for 2028 startup as Italian energy company reaches financial close with government for CO₂ transport and storage network
21 April 2025
Agreement on a two-tier emissions trading scheme does not go far enough to meet IMO GHG reduction targets, say observers
11 April 2025
As the global economy grows, demand for materials is expected to increase. The way materials are made could incorporate new technologies in the future to ensure economic growth is more sustainable
9 April 2025
AI is powering the Middle East & North Africa’s digital transformation, but can the region meet soaring energy demand sustainably? Small modular reactors may hold the key
