Sharjah National Oil Co, Sumitomo sign MoU on CCS
Sharjah National Oil Corporation (SNOC) and Japan's Sumitomo Corporation have signed a memorandum of understanding (MOU) to conduct a joint feasibility study focusing on the potential for carbon capture and storage (CCS) at a mature gas field in Sharjah, SNOC announced on July 25.
The mature gas fields owned and operated by SNOC are seen as promising candidates for carbon sequestration due to their substantial storage capacity and strategic location, which is close to multiple large-scale CO2 sources, the company added. Establishing a CCS hub in Sharjah could play a crucial role in contributing to the decarbonisation efforts of the Northern Emirates.
The MoU signing ceremony took place on July 17 at the UAE - Japan Business Forum, organised by the UAE ministry of economy.
SNOC said it has already committed to achieving net-zero emissions for its own operations by 2032, and CCS is considered a potential solution to support this goal.
Sumitomo Corporation Group has a basic environment policy in place to achieve carbon neutrality by 2050, and they view CCS as a key technology to realise the energy transition.