Abu Dhabi National Oil Company (ADNOC) has signed a $3 billion green financing agreement with the Japan Bank for International Cooperation (JBIC). This agreement builds on a Heads of Agreement signed earlier this year and strengthens their long-standing partnership. The facility, part of JBIC’s GREEN lending programme, is supported by Japanese commercial banks and aims to accelerate ADNOC's decarbonisation and energy transition initiatives.

The agreement was signed in Tokyo by Khaled Al Zaabi, ADNOC Group CFO, and Kazuhiko Amakawa, Deputy Governor of JBIC, with high-level officials from both countries in attendance. ADNOC plans to use the proceeds to support its strategy for a global energy transition. The company, already one of the least carbon-intensive oil and gas producers, aims to further reduce carbon intensity by 25% by 2030 and achieve net zero emissions by 2045.