The Abu Dhabi National Oil Company (ADNOC) has secured a $2 billion green financing loan, backed by the Korea Trade Insurance Corporation (K-SURE), to fund low-carbon projects across its operations. This loan, structured under ADNOC’s Sustainable Finance Framework, will support the financing of eligible projects aimed at reducing carbon emissions. It marks ADNOC’s first green financing facility backed by a Korean export credit agency.
This deal follows a $3 billion transaction with the Japan Bank for International Cooperation (JBIC) in 2024, bringing ADNOC’s total green funding to $5 billion over the past 18 months. ADNOC is committed to reducing its operational carbon emissions intensity by 25% by 2030, alongside investing $23 billion to decarbonise its operations. First Abu Dhabi Bank (FAB) and K-SURE coordinated the green loan, with Santander also serving as a key coordinator.
Additionally, ADNOC secured $11 billion in structured financing to monetise future gas production from its Hail and Ghasha development after Russia’s Lukoil exited the project. This financing move further strengthens ADNOC’s commitment to sustainable energy initiatives.
