Masdar, Abu Dhabi’s multi-faceted future energy initiative, today signed an MOU at the World Future Energy Summit in the presence of Her Excellency, Quentin Bryce, Governor General of Australia, to become a founding member of the Australian Government’s flagship Global Carbon Capture and Storage Institute (GCCSI).

The Institute will be administered and funded by the Australian Government and is an important global initiative that aims to facilitate the development and deployment of carbon capture and storage (CCS) projects.

“CCS is a crucial technology that will be a main driver in reducing emissions around the world. The Australian Government is demonstrating the type of leadership required to accelerate CCS progress on a global scale,” said Dr. Sultan Al Jaber, CEO of Masdar. “The GCCSI brings together the leading players in CCS in an effort to raise global awareness and accelerate the deployment of technology, and Masdar is keen on playing a key role in this initiative.”

Masdar is developing a world class CCS network in Abu Dhabi. The project consists of a series of facilities capturing carbon dioxide emissions from Abu Dhabi’s industrial and power generation plants. The CO2 will be transported in a pipeline network and injected into Abu Dhabi’s oil reservoirs for enhanced oil recovery.

The objective of the CCS network is to reduce Abu Dhabi’s carbon footprint and replace the vast amount of natural gas currently re-injected into oil reservoirs. The first phase aims to capture five million tons of CO2 gas per year through 2013 from three emission sources: a gas-fired power plant, an aluminum smelter and a steel mill.

“Masdar’s involvement in GCCSI is welcomed by the Australian Government as a further indication of the desire of global players to work together” said HE Governor General Bryce.

The GCCSI will bring government and industry together and will facilitate global action to accelerate the deployment of large-scale projects. It will enable a far greater level of knowledge sharing and communication, thereby building public awareness and acceptance of carbon capture and storage as a key contributor to the range of solutions needed to address climate change.

Masdar’s participation has been secured following a recent delegation to Australia, and a visit of the Australian Prime Minister Kevin Rudd to Abu Dhabi. The Governor General will deliver a speech at the World Future Energy Summit on Australia’s renewable energy policy and programme.

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