February 23, 2024

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ADNOC, Occidental associate to discover funding in carbon seize within the UAE and US

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In January 2023, PACE established an skilled physique co-chaired by Dr. Sultan Ahmed Al Jaber, Minister of Trade and Superior Expertise, and ADNOC Managing Director and Group CEO, and Amos Hochstein, White Home Senior Advisor for Power and Funding.

Amos Hochstein, Senior Advisor for Power and Funding on the White Home, commented, “The world wants varied applied sciences, together with DAC and CCUS, to realize world local weather objectives. This announcement showcases the potential of the US-UAE Partnership for Accelerating Clear Power (PACE). I’m desirous to witness the outcomes of this settlement.”

In response to the Intergovernmental Panel on Local weather Change (IPCC), investments in CCS and DAC will play a important function in mitigating local weather change.

“We look ahead to constructing on our longstanding partnership with ADNOC as we advance our plans to globally deploy DAC expertise and have interaction companions who’re dedicated to creating carbon options at climate-relevant scale,” Vicki Hollub, President and CEO at Occidental. “Partnerships like this one are important to serving to the world attain its local weather objectives and guarantee it has the assets it must thrive by means of the power transition.”

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