Abu Dhabi companies Adnoc and Masdar signed deals on Friday to explore green hydrogen opportunities amid the UAE's efforts to establish itself as a hub for the low-carbon fuel.
Adnoc has teamed up with Japan’s Mitsubishi Heavy Industries to explore potential opportunities in green hydrogen and ammonia value chains.
The companies will also explore research and deployment of carbon management technologies, the state-run energy company said.
“This agreement … builds on the UAE’s long-standing and successful strategic energy relationship with Japan,” said Musabbeh Al Kaabi, Adnoc's executive director of low carbon solutions and international growth.
“Our combined expertise and commitment to advancing carbon neutral technologies offers great potential to help accelerate Adnoc’s journey to net zero by 2045.”
Low-carbon hydrogen and ammonia are critical to decarbonising hard-to-abate industries and meeting growing global demand for cleaner feed stock for power generation.
Adnoc is building a one million tonnes-per-year low-carbon ammonia production facility at the Ta'ziz industrial ecosystem and chemicals hub in Ruwais, Abu Dhabi.
The company has also shipped several demonstration cargoes of low-carbon ammonia to customers in Asia and Germany.
“We are looking forward to contributing to Adnoc’s net-zero ambition through our reliable technology in the coming projects under this agreement,” said Hitoshi Kaguchi, senior executive vice president at Mitsubishi Heavy Industries.
Separately, Abu Dhabi clean energy company Masdar signed an initial agreement with Austria's OMV to explore the production of green hydrogen for the decarbonisation of industrial processes in OMV’s refineries.
The deal forms the basis of a joint agreement to develop an industrial large-scale electrolysis plant, which will be powered by renewable energy, Masdar said in a statement.
The companies will collaborate to develop the project and plan to make a final investment decision in the second half of 2024.
“This co-operation agreement … is another step in the right direction towards building a robust hydrogen value chain and supports our ongoing aim of one million tonnes of green hydrogen per annum globally by 2030,” said Mohammad Al Ramahi, Masdar’s chief green hydrogen officer.
The Emirates, the Arab world’s second-largest economy, aims to achieve hydrogen production of 1.4 million tonnes annually by 2031, increasing to 15 million tonnes a year by 2050.
The country is planning to develop at least two hydrogen production hubs, or oases, by 2031.
Masdar, which is active in more than 40 countries, aims to expand its capacity to about 100 gigawatts of renewable energy by the end of the decade.
This week, Masdar and Spain’s Iberdrola signed a €15 billion ($16.25 billion) partnership to evaluate the development of offshore wind and green hydrogen projects in key markets including Germany, the UK and the US.
On Thursday, Masdar also signed a deal with Austria's Verbund Green Hydrogen to explore the feasibility of building one of Europe’s largest green hydrogen production plants in central Spain.
The plant, to be operational by the end of the decade, would aim to generate green hydrogen to cover industrial demand in Spain and central Europe, the companies said.
The fuel produced is expected to be used to decarbonise Spain or Europe’s hard-to-abate sectors, which could include steel production, fertilisers, chemicals, heavy transportation and aviation.
It is intended that the plant would produce the fuel using renewable energy generated by solar power plants, potentially including Masdar’s planned gigawatt-scale solar plant in Castilla-La Mancha, and onshore wind farms, the companies said.
The study will evaluate if green hydrogen produced at the plant has the potential to displace up to one million tonnes of carbon emissions annually.
There is huge growth potential for green hydrogen in Europe. Spain currently consumes around 500,000 tonnes of mainly traditional fuel-derived grey hydrogen per year, which could be gradually replaced with green hydrogen.
By 2035, Austria alone is expected to require around 600,000 tonnes per year of clean hydrogen, the companies said.
Teachers' pay - what you need to know
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
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Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
The years Ramadan fell in May
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Coal Black Mornings
Brett Anderson
Little Brown Book Group
Pros%20and%20cons%20of%20BNPL
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How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
