MASDAR SIGNS MOU WITH THE PROVINCE OF ALBERTA

Strategic agreement paves way for cooperation on Carbon Capture and Storage research

ABU DHABI, United Arab Emirates, January 21, 2010 (ME NewsWire): Masdar, Abu Dhabi’s multifaceted renewable energy initiative, and the Ministry of Energy of the Government of Alberta, Canada, today signed a Memorandum of Understanding (MoU) for government-to-government cooperation on carbon capture and storage (CCS) initiatives.

The MoU, which was signed during the World Future Energy Summit (WEFS), sets out a strategic agreement between the two governments for the sharing of research and evaluation and analysis on non-confidential CCS projects and technologies.

CCS works by capturing carbon dioxide emissions from power plants and industrial sources, thus preventing their release into the atmosphere, and permanently storing these underground in geological structures such as oil reservoirs. Some 40% of the world’s carbon emissions currently come from power generation, making CCS a promising new technology in the global effort to combat climate change. 

Talking on the importance of the MoU, Dr. Sultan Al Jaber, Chief Executive of Masdar said:

“Masdar is committed to developing partnerships with global energy organisations, such as the Government of Alberta’s Ministry of Energy, to test and prove efficient, commercially scalable sustainable energy solutions that can be replicated globally.

“The importance of developing CCS technology cannot be underestimated. Global warming is directly related to the release of carbon dioxide into the atmosphere; therefore, it is imperative that we work with other leading energy organisations to develop cost effective processes for the capture and storage of CO2” he added.

 “The Province of Alberta is rich in energy and mineral resources including natural gas, conventional oil, oil sands, petrochemicals, electricity and coal,” said Ed Stelmach, Premier of Alberta. “We understand well the importance of CCS and are delighted to have signed this agreement with Masdar, which like us, is committed to reducing carbon emissions both locally and globally through the management of clean fossil fuel power and greater industrial energy efficiency.”

Masdar is developing one of the world’s most ambitious large-scale CCS projects. The CCS network will capture carbon dioxide from power plants and industrial facilities and then transport it via a UAE-wide pipeline network for injection into Abu Dhabi’s oil reservoirs for Enhanced Oil Recovery (EOR). The first phase of the project is currently in the front-end engineering and design stage and upon completion in late 2014 will capture 5 million tonnes of CO2 per year.

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Source: ME NewsWire

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About Masdar
Masdar is Abu Dhabi’s multi-faceted initiative advancing the development, commercialisation and deployment of renewable and alternative energy technologies and solutions. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), a wholly owned company of the government of Abu Dhabi through the Mubadala Development Company.

For more information about the Masdar Initiative, please visit www.masdaruae.com

About Department of Energy of the Province of Alberta, Canada
The Ministry of Energy is responsible to the government and citizens of Alberta to develop and implement sound policy that will assure sustained prosperity in the interests of Albertans through the responsible development of energy and mineral resources, and leadership in energy technology, conservation and efficiency.

Press Contact:

Fares Ghneim
Masdar
Tel: +971 50 818 3191
Email: fghneim@masdar.ae