Adnoc is growing its CCS portfolio
Adnoc buys into UK CCS developer Storegga
Emirati energy company takes 10.1% stake in first international investment in carbon management sector
Emirati energy company Adnoc has made its first overseas investment in the CCS sector with the purchase of a 10.1% stake in independent UK-based project developer Storegga. The investment, the size of which was not disclosed, formed part of Storegga’s fourth funding round, which also drew further investment from existing shareholders, including Singaporean sovereign wealth fund GIC and Australian bank Macquarie. Adnoc funded its investment from a $15b pot allocated to growing its presence in low-carbon solutions and decarbonisation technologies. The company has set a CCS capacity target of 10mt/yr by 2030. “This strategic investment marks an important milestone in Adnoc’s decarbonisation jou
Also in this section
1 April 2026
Emerging industry must work with policymakers to convince a broader pool of investors to buy into its long-term potential
12 March 2026
Role of world’s largest carbon cap-and-trade market under scrutiny as war in Iran threatens to drive EU energy costs to unsustainable levels
10 March 2026
Europe urgently needs to bring more projects to FID, as CCS investors warn they might divert capital to faster-growing regions
9 January 2026
A shift in perspective is needed on the carbon challenge, the success of which will determine the speed and extent of emissions cuts and how industries adapt to the new environment
