Japan’s Sumitomo Corporation has signed an initial agreement with UAE’s Sharjah National Oil Corporation (SNOC) to develop a carbon capture project in the Emirates.
The companies will conduct a feasibility study covering the entire carbon capture and storage (CCS) value chain, including transport, storage, business models and assessment of regulatory aspects, according to a statement from SNOC on July 24.
A CCS hub would contribute “significantly” to the decarbonization of the Northern Emirates, the state-owned company said.
Hatem Al Mosa, Chief Executive of SNOC, stated, “As part of the joint feasibility study, we will collaborate with industry leaders, environmental organizations and regulators with the aim of developing a viable project which adheres to the highest standards.”
