The new company will have an initial focus on developing three core platforms with a value of over US$80bn. (Image source: ADNOC)

ADNOC has launched XRG, an international lower-carbon energy and chemicals investment company, which will start operations in Q1 2025 with an initial focus on developing three core platforms with a value of over US$80bn

XRG’s Global Chemicals platform will produce chemical and specialty products; its International Gas platform will build an integrated gas portfolio to help meet the anticipated increase in gas and LNG demand, while its Low Carbon Energies platform will invest in the solutions needed to meet increasing demand for low carbon energies and decarbonisation technologies. ADNOC envisages that the demand for these products will be driven by three megatrends: the transformation of energy, exponential growth of AI, and the rise of emerging economies, which could see XRG doubling its asset value over the next decade.

Dr Sultan Ahmed Al Jaber, ADNOC managing director and Group CEO, said, “Building on our unrivalled track record in energy and investments, network of global partners, and strategic market access, XRG will drive sustainable economic growth, foster technological innovation, and deliver the energy and products needed to improve lives around the world. We are committed to delivering long-term value for our stakeholders and reinforcing Abu Dhabi and the UAE’s role as a global energy and chemicals leader.’’

The establishment of the new companywas approved by President His Highness Sheikh Mohamed bin Zayed Al Nahyan at the annual meeting of the ADNOC Board of Directors.

Liv A. Hovem from DNV’s Executive Committee hands the Site Feasibility Certificate to Hanan Balalaa, ADNOC senior vice president for New Energies. (Image source: DNV)

DNV has certified the feasibility of ADNOC’s West Aquifer CO2 storage site in the UAE, the first site it has certified in the Middle East

It covers the initial subsurface assessments of the Simsima and UAE saline reservoirs, and signifies that the site is equipped for safe and effective CO2 storage.

The West Aquifer project is part of ADNOC’s efforts to scale up CCS deployment, which are central to its decarbonisation strategy. ADNOC is seeking to expand CCS capacity to 10 mn tonnes per annum by 2030 with the aim of reducing industrial CO2 emissions, in line with the UAE’s net zero goals.

Santiago Blanco, executive vice rresident & regional director Southern Europe, Middle East, Latin America and Africa, Energy Systems at DNV, commented, “Certifying the West Aquifer CO2 storage site is an important milestone, not just for ADNOC but for the region’s commitment to addressing climate challenges. This project serves as a tangible step toward meeting the UAE’s Net Zero goals and highlights the vital role that CCS will play in shaping a sustainable energy future.”

Hanan Balalaa, ADNOC senior vice president for New Energies, said: “The certification of ADNOC’s West Aquifer site by DNV builds on our track record of successful deployment of carbon capture across Abu Dhabi and our global leadership in this critical decarbonisation solution. We will continue to work with our partners and customers to develop and scale up this technology.”

The collaboration aims to accelerate the deployment of carbon capture technology in hard-to-abate industries. (Image source: Celeros Flow Technology)

Celeros Flow Technology (Celeros FT) and Carbon Clean signed a partnership agreement at ADIPEC to accelerate the deployment of carbon capture technology in hard-to-abate industries

Under the partnership agreement, both companies will collaborate to develop industrial-scale carbon capture solutions. It will see Celeros FT combining its application knowledge and technical engineering pedigree with Carbon Clean’s specialist expertise in carbon capture solutions, specifically Carbon Clean’s patented Cyclone CC technology, which is columnless, compact and modular, delivering high performance while significantly reducing the cost of carbon capture compared to conventional solutions.

Celeros FT, which provides engineering and fabrication services based on more than 140 years of experience, will leverage its extensive sales and aftermarket support network to support the decarbonisation goals of existing and new customers.

The agreement represents further progress towards Celeros FT’s ambition to become a full chain supplier to the Carbon Capture and Storage (CCS) sector and adds industrial carbon capture technology to its portfolio of specialist CO2 transportation pumps and injection pumps for storage.

Jose Larios, CEO & president, Celeros FT said, “Celeros Flow Technology recognises the challenges that the energy transition raises for customers. This partnership further underlines our commitment to developing fully customised lifecycle solutions that respond to the diverse process challenges of transitioning from fossil fuels to renewable resources. We are excited by the prospect of working collaboratively with Carbon Clean to deliver modular, compact, and scalable solutions for carbon capture across our chosen markets.”

Aniruddha Sharma, chair and CEO, Carbon Clean, commented, “Our fully modular, columnless technology will transform the industrial carbon capture sector – solving the longstanding cost and space barriers. The Carbon Clean team have delivered a breakthrough and we are excited to partner with Celeros Flow Technology for manufacturing and fabrication. This partnership will play a significant role in accelerating the number of deployed units, enabling CycloneCC technology to be fully commercialised and rolled out at scale.”

Nicholas Villemain, global capital projects manager, Fluid Connectors Group, Parker Hannifin. (Image source: Parker Hannifin)

The bustling ADIPEC exhibition in the UAE was the perfect backdrop for Nicolas Villemain, global capital projects manager, Fluid Connectors Group, Parker Hannifin to share the company's ambitious plans for the Middle East market. As a global leader in motion and control technologies, Parker is positioning itself at the forefront of the region's energy transition.

"ADIPEC is a really important show for us," Villemain explained. "It's a great place to meet our current distributors and look for new opportunities to grow. We still have room to find new channels and partners to expand our reach." And with the Middle East's booming market, there is no shortage of potential.

A key area of focus for Parker is supporting the region's shift towards cleaner energy sources. "We are focused on helping our current oil and gas companies grow, do more carbon capture, and study hydrogen," said Villeman. The company's extensive, almost US$20bn portfolio of products, puts them in a unique position to tackle these challenges.

Middle East growth

Villemain highlighted Parker's expertise in developing solutions for harsher environments and higher pressures - critical considerations as the industry navigates new frontiers. "We have developed an expertise on high pressure and corrosion-resistant alloys. There's also work we can do with our customers to make systems safer and reduce emissions, we have great solutions for that."

To deliver these innovations, Parker relies on its strong global network and local partnerships. "We come with expertise from around the world, and we like to work closely with end users and EPCs to provide technical expertise and share our experience," Villemain explained. "Companies like ADNOC and ARAMCO benefit from our knowledge and added value solutions to achieve their goals."

Parker is keen to emphasise its strategy for fostering innovation within the company. "This is really at the heart of our strategy," Villemain responded. "We're showcasing solutions like valves, fittings and hoses that can handle hydrogen, high pressures and harsh medias, as well as filtration systems for electrolyzers. It's amazing to see the progress we've made in just the last 20 years."

The Middle East's growth prospects have Parker equally enthused. "Saudi Arabia is a major key market for us globally," Villemain stated. "And in the UAE, the transformation over the past 25 years has been incredible. There are still so many exciting projects, like the Helium gas hub, that we're eager to be a part of."

To capitalise on these opportunities, Parker has made the strategic decision to exhibit directly at ADIPEC, rather than relying solely on local partners. "We realised this is the biggest show in the world for oil and gas, where people speak about the energy transition journey," he explained. "It's where we invest, with many applications in our clean tech segment, including hydrogen, carbon capture, and digitalisation."

This direct presence also allows Parker to strengthen its regional distribution network. "We continue to expand our partnerships in the UAE, Oman, Qatar, and Saudi Arabia," he added. "It's important for us to get questions from people all over the world, and be identified as a global player in this industry."

As the Middle East accelerates its shift towards a more sustainable energy future, Parker is poised to play a pivotal role. With its innovative technologies, global expertise, and local partnerships, the company is well-equipped to power the region's transition.