UAE Focuses on Carbon Cuts
The United Arab Emirate's Masdar and German outfit, E.ON have set up a joint venture to develop projects to reduce greenhouse gas emissions. E.On Masdar Integrated Carbon (EMIC) announced that it will develop and finance projects in the Middle East, Africa and Asia,focusing on oil and gas as well as power generation.
EMIC plans to generate income from reduced carbon emissions at industrial facilities through carbon credits traded under a United Nations scheme, reported the companies. The carbon credits will be traded under the UN's Clean Development Mechanism, which allows developing countries to sell emission reductions from their energy-intensive industry to help developed nations offset their contribution to climate change.
In related news, the Abu Dhabi state-owned Masdar reported that its first carbon capture and storage (CCS) project would be cutting greenhouse gas (GHG) emissions in the United Arab Emirates (UAE) by the end of 2012. This first CCS project will capture emissions from a new UAE steel plant. "The first capture is 800 000 tonnes from the Emirates Steel plant in 2012," said Sam Nader, director of Masdar's carbon management unit.
Masdar aims to set up a network of pipelines in the UAE to pump carbon from emitting sites to oilfields, where it would be injected into reservoirs to maintain pressure and increase oil recovery. The network is expected to be completed by 2015.
For more information: www.masdar.ae