EnergyTop Stories
GBO_UAE

UAE’s ADNOC launches lower-carbon energy & investment company XRG

The partnership is in line with the UAE's Energy Strategy 2050, which places a strong emphasis on the use of clean energy and increased energy efficiency

The UAE’s largest energy company, Abu Dhabi National Oil Company, has launched XRG, a new lower-carbon energy and chemicals investment company with an enterprise value of over USD 80 billion.

Over the next ten years, XRG is anticipated to more than double its asset value by taking advantage of the growing demand for clean energy, which it claims will be fuelled by the development of AI technologies and the emergence of emerging economies.

The independently run business will concentrate on creating a global chemicals platform to manufacture and distribute speciality and chemical goods.

In addition, XRG will introduce a low-carbon energy platform and develop an integrated gas portfolio to satisfy the demand for decarbonisation technologies. The official start of XRG’s operations is scheduled for Q1 2025.

To investigate cutting-edge nuclear technologies and use surplus heat to improve energy efficiency in oil and gas operations, the Emirates Nuclear Energy Company (ENEC) and ADNOC have signed a Strategic Collaboration Agreement (SCA).

This partnership is in line with the UAE’s “Energy Strategy 2050,” which places a strong emphasis on the use of clean energy and increased energy efficiency.

The deal calls for a thorough technical and financial analysis to identify the best nuclear reactor technologies for ADNOC’s operations.

Small Modular Reactors (SMRs) are among the advanced nuclear technologies ENEC will assess using its experience to find solutions that improve sustainability and energy efficiency.

The collaboration will also investigate the viability of using surplus heat from ENEC’s flagship Barakah Nuclear Energy Plant in Abu Dhabi.

Using pilot projects to develop and demonstrate advanced technologies, the studies seek to evaluate prospects for repurposing this heat for industrial uses.

“This strategic collaboration with ADNOC marks a significant step forward in our ongoing commitment to advancing new technologies and driving R&D in the UAE’s energy sector. By focusing on cutting-edge nuclear innovations and exploring new methods to harness excess heat for industrial applications, we are strengthening the UAE’s green economy. Together with ADNOC, we will leverage our combined technical capabilities and expertise to identify and develop nuclear solutions that enhance energy security and sustainability in parallel,” Ahmed Al Mazrouei, Vice President of Nuclear Research and Development at ENEC said.

ADNOC has also teamed up with the Emirates Nuclear Energy Corporation to evaluate the deployment of advanced nuclear technology such as small modular reactors to support the UAE’s energy diversification strategy, and will look into using excess heat from the Barakah nuclear power plant in ADNOC’s oil and gas operations.

“A strategic collaboration agreement to research and explore developing innovative energy solutions to enhance energy efficiency signed by the two companies involves a comprehensive technical and economic assessment to identify the best-fit nuclear reactor technologies for ADNOC by leveraging ENEC’s expertise in assessing technological performance in pilot projects as well as future technologies under development,” ENEC said.

The agreement also covers feasibility studies to assess opportunities to use excess heat from Barakah, with recommendations for advanced technologies that can be demonstrated through existing or upcoming pilot projects.

Ahmed Al Mazrouei, nuclear research and development vice president at ENEC, said the collaboration was a significant step forward in the company’s ongoing commitment to advancing new technologies and driving research and development in the UAE’s energy sector.

“By focusing on cutting-edge nuclear innovations and exploring new methods to harness excess heat for industrial applications, we are strengthening the UAE’s green economy. Together with ADNOC, we will leverage our combined technical capabilities and expertise to identify and develop nuclear solutions that enhance energy security and sustainability in parallel,” the official informed the World Nuclear News.

“In collaborating with ENEC, we will explore the deployment of small modular nuclear reactors as we develop innovative energy solutions to enhance our operational efficiency. Our partnership underscores our mutual commitment to scaling a reliable and clean energy source, as well as developing pioneering advancements in lower-carbon energy and technological innovation,” ADNOC Senior Vice President for Technology and Innovation Ali Al Rawahi said.

Related posts

Google issues advisory for Gmail users ahead of holiday season

GBO Correspondent

Check out the key trends which will shape 2024 real estate market

GBO Correspondent

University of Waterloo’s latest innovation: Companion robots for dementia patients

GBO Correspondent