Page 15 - DMEA Week 01 2023

DMEA NEWS IN BRIEF DMEA

business new europe bne/IntelliNews

Kenya’s trade deficit major developments. This award reinforces the first-of-its-kind CCS project, innovative car-
strong and lasting relationship we have built with bon removal technologies, investment in new,
widens in Q3 2022 on KOC and reaffirms our outstanding consultancy cleaner energy solutions and strengthening of
delivery as well as our long-standing presence in international partnerships. Together with the
doubling of petroleum Kuwait.” recent formation of the ADNOC’s new Low
Carbon Solutions and International Growth
A “large” award for Technip Energies is a con-
products, fertiliser imports tract award representing between €250mn and Directorate, these represent tangible and con-
€500mn of revenue. As the framework agree-
crete action as the company reduces its carbon
Kenya’s trade deficit widened by 15.8% in the ment is call-off in nature, the overall value of intensity by 25% by 2030 and moves towards its
third quarter of 2022, with imports of petro- the contract will be progressively added to order Net Zero by 2050 ambition.
leum products and fertilisers more than dou- intake as it is called off by the client. Dr. Sultan Ahmed Al Jaber, UAE Minister
bling, according to the Kenya National Bureau Technip Energies, 05 January 2023 of Industry and Advanced Technology and
of Statics (KNBS). ADNOC Managing Director and Group CEO,
The trade deficit stood at KES434.0bn ADNOC allocates $15bn to said:
($3.6bn) in Q3 2022 compared to KES366.1bn “Under the directives of the UAE’s wise lead-
($3.05bn) in the same quarter of 2021, the KNBS low-carbon solutions ership and the ADNOC Board of Directors,
said. ADNOC continues to take significant steps
During the quarter, exports increased by ADNOC, a reliable and responsible provider of to make today’s energy cleaner while invest-
29.7% to KES227.8bn while imports increased lower-carbon intensity energy, has announced ing in the clean energies and new technologies
by 22.2% to KES661.8 bn, while the import bill a bold new strategy to progress the world-scale of tomorrow. Now, more than ever, the world
also increased by 20.8% to KES601.2bn. decarbonisation of its operations. needs a practical and responsible approach to
“The growth in import bill was largely driven The announcement follows the guidance by the energy transition that is both pro-growth and
by a significant increase in imports of petroleum ADNOC’s Board of Directors in November 2022 pro-climate, and ADNOC is delivering tangible
products, which more than doubled from KES- to accelerate delivery of its low-carbon growth actions in support of both these goals.
82.3bn in third quarter of 2021 to KES182.6bn in strategy and the approval of its Net Zero by “Cementing our strong track record of
the third quarter of 2022,” KNBS stated, noting 2050 ambition. This builds on ADNOC’s strong responsible and reliable energy production,
that tea exports rose 45.5% during the period. track record as a leading lower-carbon intensity ADNOC will fast-track significant investments
Despite the wider trade deficit, efforts by energy producer, which includes its use of zero into landmark clean energy, low-carbon and
Kenya and eight other countries to commence carbon grid power, a commitment to zero flaring decarbonisation technology projects. As we
trading under the Africa Continental Free Trade as part of routine operations and deployment of continue to future-proof our business, we invite
Area (AfCFTA) have begun bearing fruit, The the region’s first carbon capture project at-scale. technology and industry leaders to partner with
Star writes. Acting on the Board’s guidance, ADNOC has us, to collectively drive real and meaningful
The trade arrangement has seen total exports allocated $15bn (AED55bn) to advance an array action that embraces the energy transition. This
earnings from Africa increase from KES74bn in of projects across its diversified value chain by strategic, multi-billion-dollar initiative under-
the third quarter of 2021 to KES97.6bn in 2022. 2030. These projects will include investments scores ADNOC’s industry leadership as a lead-
bna/IntelliNews, 03 January 2023 in clean power, carbon capture and storage ing global provider of lower-carbon energy.”
(CCS), further electrification of its operations, Building on ADNOC’s Al Reyadah facil-
energy efficiency and new measures to build on ity, which has the capacity to capture up to
COMPANIES ADNOC’s long-standing policy of zero routine 800,000 tonnes of CO2 per year, the company
gas flaring. ADNOC will apply a rigorous com- will announce plans to deploy technologies to
Technip Energies mercial and sustainability assessment to ensure capture, store and absorb CO2 by leveraging the
UAE’s geological properties while preparing for
that each project delivers lasting tangible impact.
awarded large project and initiatives will be announced, including a from its Habshan gas processing facility.
Throughout 2023, a suite of new projects its next major investment to capture emissions
management consultancy
contract by KOC

Technip Energies has been awarded a large
contract for Project Management Consultancy
(PMC) by Kuwait Oil Co. (KOC).
The five-year framework agreement contract
covers front-end engineering design (FEED),
project management, and associated services
for KOC’s major projects.
This contract represents a renewal of the
first five-year framework agreement that was
awarded to Technip Energies by KOC in 2014.
Charles Cessot, Senior Vice-President
of Technip Energies, commented: “We are
delighted by the continued confidence shown by
KOC with this award to support them on their

Week 01 05•January•2023 www. NEWSBASE .com P15