The Emirati company ADNOC announced on Monday, January 8, its acquisition of a 10.1% stake in Storega, which is based in the United Kingdom. The company focuses on developing global carbon capture and storage projects and owns a portfolio of carbon capture projects distributed in the United Kingdom and the United States of America. And Norway.
This deal represents ADNOC's first international investment in shares of carbon management companies, and ADNOC aims to increase its carbon capture capacity to reach 10 million tons annually by 2030.
The acquisition of a stake in Storega is based on the 55 billion dirhams that ADNOC initially allocated to invest in low-carbon solutions and emissions reduction technologies.
It is noteworthy that among the projects that Storega is developing in the United Kingdom is the Acorn carbon capture and storage project, which is expected to store up to 10 million tons of carbon dioxide annually by 2030.
