The 38th edition of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) has been officially opened with His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group CEO of ADNOC, calling for maximum energy with minimum emissions in his opening address
With ADIPEC taking place against an unsettled international background, Al Jaber remarked, “A few days ago, as I was updating our President His Highness Sheikh Mohamed bin Zayed Al Nahyan, I asked for his advice. His response was reassuring. He told me ‘we cannot ignore the realities on the ground. We need to face them. We don’t shy away from challenges. We address them by adopting a positive mindset and by working out solutions with like-minded partners.’ And then he added: ‘And remember, pursuing progress is in our DNA.’”
Al Jaber pointed out that, at this current moment, energy is everybody’s top priority and that if the world stops hydrocarbon investment, it could lose five million barrels of oil per day each year from current supplied. “This would make the shocks we have experienced this year feel like a minor tremor. If this year has taught us anything, it taught us that energy security is the foundation of all progress – economic social and climate progress.”
He continued by explaining that the world needs all the solutions and resources it can get its hands on in order to meet the ever-expanding energy demand – this includes oil and gas, solar, wind, nuclear, hydrogen and all the clean energies yet to be discovered and deployed.
“The world needs maximum energy, minimum emissions. This is why our leadership decided to be a first mover in renewable energy, over 16 years ago by launching Masdar. It’s why we were the first country in the region to deploy nuclear power. And it is why ADNOC is making today’s energy cleaner while investing in the clean energies of tomorrow,” Al Jaber added.
To highlight this, he touched on the steps ADNOC has taken in this pursuit including connecting its operations to zero carbon nuclear and solar power, electrifying offshore operations, and pressing down harder on methane intensity. He also surmised that the company is constantly looking at new technologies to help amplify and accelerate the impact of the oil and gas industry adding that, just a few days ago, he saw the first shipment of ammonia arrive from the UAE to Germany – a first step in creating a hydrogen value chain.
In his concluding remarks, Al Jaber said global efforts should focus on a new, bold, realistic and pragmatic pathway that benefits humanity, the climate and the economy, with COP27 meeting in Sharm el Sheikh next week and as the UAE prepares to host COP28.
“We need to hold back emissions, not progress. The world is looking for solutions and I believe the energy industry can unite a divided world in finding them. I believe that the future is forged by those who make the first move. So today, I extend an open invitation to all our partners and friends around the world. Let’s make that move together and forge that future.”
