Sharjah National Oil Corporation (SNOC) and Sumitomo Corporation Middle East FZE are to collaborate on a feasibility study looking at the potential for carbon capture and storage (CCS) in Sharjah and beyond
The feasibility study will cover the entire CCS value-chain including the techno-economic analysis of CO2 capture, transport, storage, business models and assessment of regulatory aspects in order to assess the viability of a small to large-scale CCS project.
The mature gas field owned and operated by SNOC is potentially a competitive carbon sink for sequestration due to its large storage capacity and ideal location which is not far from multiple large-scale CO2 sources such as power plants and other industrial emitters.
CCS can play a pivotal role in addressing climate change. Sumitomo Corporation has been looking for partnerships in order to develop CCS projects globally whilst SNOC has been working on re-purposing its mature gas reservoirs in Sharjah.
The project will leverage SNOC’s gas management, subsurface capability and know-how relating to the mature gas fields and Sumitomo Corporation Group’s project development and management expertise in energy and infrastructure sectors, as well as its global trading network of low-carbon products & carbon credits. SNOC & Sumitomo Corporation aim to accelerate the decarbonisation of local industries through the CCS project, and contribute to “The UAE Net Zero by 2050” targeted by the UAE Government.
Hatem Al Mosa, CEO of SNOC, commented, “We are pleased to sign the MOU with Sumitomo and look forward to the next steps. As part of the joint feasibility study, we will collaborate with industry leaders, environmental organisations and regulators with the aim of developing a viable project which adheres to the highest standards. SNOC has committed to reach net zero on its own operations by 2032, and CCS has the potential to support this goal and beyond."
