Masdar justifies CCS delays

13 Apr 2011

(MENAFN) Masdar, the Abu Dhabi green energy company, said that gaining approvals for the pricing and the scheduling of the carbon capture and storage (CCS) project are the reasons behind the delay of the USD2.5 billion project, reported Arabian Business.

The company added that CCS is a hydrogen power venture between Masdar and BP, and would produce and sell 2,000 gigawatt (GW) hours of power annually to Abu Dhabi Water & Electricity Company (ADWEC) and 1.7 million tones of CO2 per year to the Abu Dhabi Company for Onshore Oil Operations (ADCO).

It said that the company contributes with USD280 million in the project with a stake of 60% while BP’s stake is 40%.

It is worth noting that the project aims to enhance oil recovery by collecting 0.8 million tones of CO2 yearly from a steel industry factory in Abu Dhabi then transporting it to the emirate’s reservoirs via a pipeline network.

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