Net Zero Legal Solutions Establishes Global CCS Institute Branch in The Middle East
Net Zero Legal Solutions, the energy transition division of HFI Consulting International has completed the establishment of a foreign branch of the Global Carbon Capture and Storage Institute in the Masdar City Free Zone (MCFZ) in Abu Dhabi. The Institute aims to play a pivotal role in accelerating CCS deployment across the Gulf Cooperation Council (GCC) States.
Net Zero Legal Solutions’ role included advising the Global CCS Institute, the world’s foremost CCS think tank, on the options available for establishing a Middle East presence and the implementation of the project in association with the firm’s local legal and corporate services partners. Net Zero Legal Solution and HFI managing partner Hugh Fraser has also taken up the role of interim general manager of the Abu Dhabi branch pending a permanent appointment to the position.
Hugh Fraser says, “Carbon capture and storage will be transformational in the fight against climate change. It is estimated that the worldwide installed capacity of CCS needs to increase one hundredfold, and Middle East states have committed to CCS as an integral part of their low carbon plans. We’re delighted that we have played a key role in the setting up of the regional corporate infrastructure and the physical office for the Global CCS Institute in the MCFZ in Abu Dhabi as they support the moves towards a net zero future.
“The region produces around 25% of the annual global oil output and as world demand for oil and gas reduces, the Gulf states are pursuing industrial diversification and decarbonisation. With vast and accessible underground storage potential and strategic goals for net zero, the region will have a significant impact on CCS deployment rates. Some projections estimate CCS projects in the region could grow fifty-fold, from two to over 100 million tonnes of CO2 captured per annum by 2040. The ‘golden triangle’ of Saudi Arabia, Qatar and Abu Dhabi is seen as a global hot spot for CCS and our clients are looking for routes to establish a local presence in order to be part of this fast-developing industry sector.
“Businesses need enhanced international group structures, sophisticated joint ventures with local partners and new in-country business establishments to conduct operational activities and the Masdar City Free Zone will play a central role in their ability to do this.”
Recruitment is underway for a regional manager and local staff for the Global CSS Institute’s Abu Dhabi office. More information on these opportunities can be found at www.globalccsinstitute.com.