Thursday, February 29, 2024

GHGSat Signs Strategic Partnership With Yahsat and ADNOC Supporting the Mitigation of Global Energy Sector’s Methane Emissions

Ambitious space-enabled program selected by COP28 Energy Transition team as a Lighthouse Project due to its scope and potential to reduce climate change

GHGSat, the global leader in emissions monitoring with satellites, today announced a strategic collaboration with Al Yah Satellite Communications Company (ADX: YAHSAT) and Abu Dhabi National Oil Company (ADNOC), aimed at reducing methane emissions from the global energy sector.

The three entities signed a Memorandum of Understanding (MoU) during the Canada-UAE Future Energy Forum, organized by the Canada UAE Business Council in Dubai on 5th December. The new strategic partnership has also been selected by the COP28 Energy Transition team as a Lighthouse Project due to its ambitious scope and potential to reduce climate change. 

This collaboration marks a significant step forward in fostering environmental sustainability and underscores the commitment of ADNOC, Yahsat, and GHGSat to accelerate positive change in the global fight against climate change by using the latest space technologies.

The three signatories will develop the program by making use of their combined assets and expertise, deploying new systems and establishing a Centre of Excellence to create new methane mitigation solutions. National Oil Companies (NOCs) in the Middle East, North Africa (MENA), Central Asia, and beyond will all be able to leverage the capabilities of the program and significantly improve their ability to monitor and prevent greenhouse gas emissions.

The program’s primary focus will be to leverage the benefits of satellite based environmental solutions to detect and quantify greenhouse gas emissions from methane venting and flaring at oil and gas facilities. This capability, underpinned by the launch of best practice training, will substantially help in the fight against climate change.

Ali Al Hashemi, Group Chief Executive Officer of Yahsat, said: "This MoU marks yet another critical milestone in our efforts to promote a more sustainable and environmentally friendly future for everyone. The energy sector is expected to play an important role in helping the world mitigate the impact of climate change. This strategic partnership brings together the brightest minds to find effective solutions to address these challenges. The fact that this has been earmarked as a Lighthouse Project during COP28 underpins its significance and we are proud to be part of it."

Stephane Germain, CEO of GHGSat, said: "We are thrilled to join forces with leading UAE organizations such as ADNOC and Yahsat to focus on methane emissions from NOCs in the MENA region and beyond. This strategic partnership will leave a lasting legacy on COP28 in the UAE and create the necessary framework for a tangible, measurable difference in the fight against climate change."

Image (back, left to right):

H.E Kris Panday, Ambassador of Canada to the United Arab Emirates, Musabbeh Al Kaabi, Co-Chair of the Canada-UAE Business Council and Executive Director of Low Carbon Solutions and International Growth at ADNOC, Hon. François-Philippe Champagne, Minister of Innovation, Science and Industry, H.E Sultan Al Mansoori, Special Envoy for Canada, Government of the United Arab Emirates, Hon. Pierre Fitzgibbon, Minister of Economy, Innovation and Energy of Quebec, and H.E Fahad Al Raqbani, United Arab Emirates Ambassador to Canada.

Image (front, left to right):

Ali Al Hashemi, Chief Executive Officer, Yahsat, Khaled Al Blooshi, VP Digital Projects and Innovation, ADNOC, and Stephane Germain, Chief Executive Officer, GHGSat.

About Yahsat

Al Yah Satellite Communications Company PJSC (Yahsat) is a public company listed on the Abu Dhabi Securities Exchange (ADX) and a subsidiary of Mubadala Investment Company PJSC, offering multi-mission satellite services in more than 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia. 

Yahsat’s fleet of five satellites reaches more than 80% of the world’s population, enabling critical communications including broadband, broadcasting, backhauling and mobility solutions. Based out of Abu Dhabi in the UAE, Yahsat provides C, Ku, Ka and L-band satellite communications solutions for land, maritime and aero platforms to consumers, governments and enterprises. Its businesses consist of Yahsat Government Solutions, Thuraya, YahClick (powered by Hughes) and YahLink. Yahsat also participates in Hughes do Brasil, an equity partnership with Hughes, and Yahlive, an equity partnership with SES. In 2020, Yahsat commenced construction of Thuraya 4-NGS, the next-generation telecommunications system for Thuraya, which is scheduled for launch in H1 2024 and expected to commence services in H1 2025. 

For more information, visit www.yahsat.com. Follow us on X: @YahsatOfficial.

Legal Notice

Legal Notice and Cautionary Statement Regarding Forward-Looking Information

This announcement includes forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, words such as "expect", "will", "looking ahead" and any other words and terms of similar meaning. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments, and speak only as at the date of this announcement. Forward-looking statements are based on assumptions of future events and information currently available to the Company which may not prove to be accurate and the Company does not accept any responsibility for the accuracy or fairness thereof and expressly disclaims any obligation to update any such forward-looking statement. No representation or warranty is made that any forward-looking statement will come to pass. You are therefore cautioned not to place any undue reliance on forward-looking statements. For further information regarding forward-looking statements, and the factors that may cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, please refer to our Annual Report for 2021, which is available on our website at https://www.yahsat.com/Reports/2022/index.html.

The amount and payment of dividends by the Group is subject to consideration by the Board of Directors of the cash management requirements of the Group for operating expenses, interest expense, and anticipated capital expenditures, and market conditions, the then current operating environment in its markets, and the Board of Directors’ outlook for the business of the Company. In addition, any level or payment of dividends will depend on, among other things, future profits and the business plan of the Company, as determined at the discretion of the Board of Directors.

Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction.

For investor enquiries, please contact [email protected].

For media enquiries, please contact [email protected] or [email protected].

Contact Information:
Kaeden Ross
Marketing Coordinator
[email protected]


Original Source: GHGSat Signs Strategic Partnership With Yahsat and ADNOC Supporting the Mitigation of Global Energy Sector’s Methane Emissions
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