2.a.iv. Other investment Assistance (joint venture of government-owned company)
CITATION:
Masdar CCS Joint Ventures
STATUS:
Study stage
TIME FRAME Start:
2008
TIME FRAME End:
DESCRIPTION:
The state-owned Abu Dhabi Future Energy Company (Masdar) of the United Arab Emirates (UAE) is planning to develop several CCS projects in various joint ventures.
The original plans announced in January 2008 called for up to 15 carbon projects to capture as much as 20 million tons a year of CO2 by 2020 in a program budgeted at U.S. $15 billion. The CO2 is to be used for EOR and replacing the natural gas currently used. The plan, when fully realized, has the potential to cut the CO2 emissions from the UAE in half over the next 13 years.
The first project is the Hydrogen Power Abu Dhabi Project (HPAD), which will capture about 1.7 million tonnes of CO2 from a hydrogen plant in Abu Dhabi by 2014, transport and inject the CO2 into oil reservoirs for enhanced oil recovery (EOR). The HPAD project is a joint venture between Masdar and Hydrogen Energy International Limited. The parties will incorporate a company to own and operate the project. Masdar will own 60% of the company and Hydrogen Energy will own 40%. Hydrogen Energy is itself a joint venture of BP and Rio Tinto, each of which hold a 50% share. The project will also be aligned with two other state-owned companies, the Abu Dhabi National Oil Company and the Abu Dhabi Water and Electricity Authority.
In another planned Masdar CCS project with the Abu Dhabi National Oil Company, CO2 is to come from a gas-fired power plant and an aluminum smelter, both located in Taweelah and a steel mill located at Mussafah. The injected CO2 is expected to boost crude production up to 10%.
