In a significant development, the Japan Bank for International Cooperation (JBIC) signed a Heads of Agreement (HOA) with Abu Dhabi National Oil Company (ADNOC). The HOA sets the stage for further discussions on financing under JBIC’s GREEN operations, demonstrating ADNOC’s commitment to decarbonizing its operations.
ADNOC, a key player in the energy sector owned by the Emirate of Abu Dhabi, is actively pursuing net zero emissions by 2045. The company is focused on promoting renewable energy, hydrogen, ammonia, carbon capture and storage (CCS), and other green initiatives. The credit line envisaged under the HOA aims to support ADNOC’s projects related to decarbonization and energy transition, contributing to its ambitious sustainability goals.
Abu Dhabi’s strategic partnership with Japan spans over 40 years, with the Emirate being a vital supplier of crude oil to Japan. The credit line discussed in the agreement is expected to foster collaboration between Japanese companies and ADNOC, leveraging Abu Dhabi’s abundant resources for renewable energy and its favorable conditions for CCS.
JBIC, as Japan’s policy-based financial institution, remains committed to providing financial support for sustainable development efforts. The collaboration with ADNOC aligns with JBIC’s mission to contribute to global environmental preservation and the realization of a decarbonized society.
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 and Abu Dhabi National Oil Company (ADNOC) have signed a Heads of Agreement (HOA) to initiate discussions on financing under JBIC's GREEN operations. ADNOC, committed to achieving net zero emissions by 2045, seeks JBIC's support for its decarbonization and energy transition projects. The collaboration aims to foster sustainable development, leveraging Abu Dhabi's resources and creating opportunities for Japanese companies in green initiatives.){kind=link}