ADNOC secures $2bn K-SURE green financing for lower-carbon projects

Core Viewpoint - ADNOC has secured Dh7.34bn ($2bn) in green financing from Korea Trade Insurance Corporation (K-SURE) to support lower-carbon projects within its operations [1][4]. Group 1: Financing Details - The financing is structured under ADNOC's sustainable finance framework and aims to fund projects that comply with international sustainable finance market standards [2]. - This green financing follows a previous Dh11bn transaction with the Japan Bank for International Cooperation, bringing ADNOC's total green funding to Dh18.35bn over the past 18 months [3]. - First Abu Dhabi Bank is the green loan coordinator, while Santander is the export credit agency coordinator for this transaction [3]. Group 2: Strategic Goals - ADNOC aims to reduce its operational carbon emissions intensity by 25% by 2030 and is investing Dh84.4bn to decarbonize its operations and expand into new energy sectors such as hydrogen, geothermal, and renewables [4]. - The financing reflects ADNOC's commitment to transforming energy systems while maintaining strong capital discipline and enhancing economic ties with South Korea [4]. Group 3: Project Context - The current green financing is part of a broader structured financing agreement for up to Dh40.4bn for the Hail and Ghasha gas development project, which will monetize future midstream gas production [5].