Musabbeh Al Kaabi, CEO of Mubadala Investment Co‘s UAE Investments platform has been appointed as executive director of a new Low Carbon Solutions & International Growth unit at ADNOC effective January 2023, Mubadala announced today.
ADNOC’s new unit will focus on new energies and low carbon solutions, including the company’s renewable energy and hydrogen portfolios and its position as a leader in carbon capture and storage, as well as international growth in gas, LNG, and chemicals.
Al Kaabi’s move follows the announcement of ADNOC’s strategy to support the UAE ‘Net Zero by 2050’ initiative.
Al Kaabi headed Mubadala’s $40 billion integrated international energy portfolio, with over ten portfolio companies operating along the value chain.
He began his career at ADNOC, where he spent 16 years, during which he held a series of increasingly senior technical and managerial roles, rising to lead ADNOC’s exploration division.
With Al Kaabi’s new appointment at ADNOC, Mubadala’s deputy CEO Waleed Al Mokarrab Al Muhairi will serve as interim CEO of the UAE Investments platform.