Expanding critical collaborations in decarbonisation technology

It’s been a remarkable year with various global issues impacting the energy industry.

Supply chains disrupted along with Covid-19, oil prices nearly doubling in a year and a half, and the Ukraine conflict have all had a huge impact on the energy industry.

Under these circumstances, most energy companies are trying to secure new growth engines, and companies whose core are traditional hydrocarbon-based business seem to be more aggressively investing in new business.

GS Energy, one of the shareholders of the two E&P businesses in Abu Dhabi, UAE— ADNOC Onshore and Al Dhafra Petroleum concessions—is also trying to diversify its energy business portfolio to continuously expand the strong partnership with ADNOC for decarbonization and energy transition.

In particular, the two energy firms are working very closely in the hydrogen business. We have signed an agreement with Fertiglobe and Mitsui to jointly develop the world-scale lowcarbon blue ammonia facility at the TA’ZIZ Industrial Chemicals Zone in Ruwais. The project is expected to start production of 1 million tons per annum of low-carbon blue ammonia from 2H, 2025.

In addition to this, GS Energy is expanding through new venture projects for green energy, which include small modular reactors (SMR), electrical vehicle charging stations, and solar and wind power generations, as a first step to secure new growth engines.

As this year’s ADIPEC is held at such an important transition period, it is expected that more active and diverse energy-related topics will be discussed during the exhibition period. This is one of the reasons why we are looking forward to ADIPEC more than ever.