Industry News

Sharjah National Oil Corporation and Sumitomo Corporation to evaluate UAE-based carbon capture project

by | Jul 31, 2023

An initial agreement signed between the Sharjah National Oil Corporation (SNOC) and Japan-based Sumitomo Corporation will see the pair exploring a carbon capture project in Sharjah, in the United Arab Emirates (UAE).

A feasibility study will be carried out as part of the deal, and will cover the entire carbon capture and storage (CCS) value chain, consisting of transport, storage, business models and an assessment of regulatory aspects.

A statement made by SNOC stated that CCS has the potential to support the company’s goal of reaching net zero through its operations by 2032, and that a CCS hub would contribute greatly to decarbonizing the Northern Emirates.

During the project’s feasibility study, both SNOC and the Sumitomo Corporation will work with a diverse group of industry leaders, environmental organizations and regulators to ensure that the CCS project adheres to the highest standards.

“We believe there is big potential for CCS in the Middle East, which is a key technology to materialize energy transition,” said Hajime Mori, managing director of Sumitomo’s subsidiary.

At present, SNOC is investigating ways in which to repurpose its mature gas reservoirs in Sharjah, while Sumitomo pursues partners to advance its international CCS projects.

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