"The world needs maximum energy, minimum emissions" was the call of His Excellency Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the UAE, Managing Director and CEO of the Abu Dhabi National Oil Company (ADNOC) at the ADIPEC-2022 Strategic Conference. According to him, the global energy crisis was exacerbated by insufficient investments in oil and gas sectors.
This year, ADIPEC-2022 is taking place amid unprecedented turbulence in the energy market and the global economy. The central theme of ADIPEC-2022 is "The Future of Energy: Secure, Affordable and Sustainable". The highlight of the business program was a keynote speech by H.E. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and CEO of the Abu Dhabi National Oil Company (ADNOC), in which he called for "maximum energy with minimum emissions."
"The world needs all possible solutions. It is not just oil and gas, not solar or wind power, not atomic or hydrogen energy. It includes oil and gas, and solar, and wind, nuclear, and hydrogen power. It is all of the above plus clean energies, which have yet to be discovered, commercialized and deployed," Sultan bin Ahmed Al Jaber said.
UAE Minister of Industry and Advanced Technology, CEO of ADNOC also noted that today "energy is a top priority for everyone" as the global energy landscape is going through a "perfect storm". Meanwhile, it is the lack of investment in oil and gas that has further aggravated the already difficult situation.
"If we zero out investments in hydrocarbons, due to the natural decline, we will lose 5 million barrels of oil per day every year from current supplies," Dr. Al Jaber stressed. At the same time, according to him, 9.7 billion people will live in the world by 2050. To meet their needs, the world will have to produce 30 percent more energy than it does today.
"We need to curb emissions, not progress. The world is looking for solutions, and I believe that the energy industry can unite a fragmented world in this search. I believe that the future is forged by those who take the first step. Therefore, today I invite all our partners and friends around the world. Let's take this step together and forge this future," Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the UAE, Managing Director and CEO of the Abu Dhabi National Oil Company (ADNOC), said in his keynote speech.
ADIPEC is the flagship international energy event that annually gathers energy ministers and business leaders from around the world to discuss a strategy for further development of the industry. This year, more than 150,000 energy specialists from 160 countries, 12,000 delegates, including 40 energy ministers and heads of the world's leading energy companies, as well as 2,200 exhibiting companies represented in 28 international pavilions of countries, are taking part in ADIPEC-2022. Russian exporters, including Business Russia companies, are also taking part in the ADIPEC-2022 exhibition in the Russian Energy-2022 section.