The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022 aimed at addressing global energy challenges has opened in Abu Dhabi, United Arab Emirates (UAE).
The ADIPEC opening took place on Monday at the Abu Dhabi National Exhibition Centre, signalling the start of the world’s biggest and most influential gathering for energy industry professionals.
The conference which has its theme as “The Future of Energy: Secure, Affordable and Sustainable” is being hosted by Abu Dhabi National Oil Company (ADNOC).
According to statement on ADIPEC website, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, UAE and Managing Director and Group CEO, ADNOC, inaugurated the opening session.
Al Jaber, while delivering the opening address called for maximum energy and minimum emissions to ensure global energy security.
He said energy security was the foundation of all progress including economic, social and climate progress.
Al Jaber, who is also the Chairman of Abu Dhabi Future Energy Company (Masdar) argued that it was timely to point out that long-term under-
investment in oil and gas has made a difficult situation even worse as “the data is clear.”
“If we zero out hydrocarbon investment, we would lose five million barrels per day of oil each year from current supplies due to natural decline. This would make the shocks we have experience this year feel like a minor tremor.
“The world is on its way to being home to 9.7 billion people by 2050 and to meet their needs, the world will have to produce 30 per cent more energy than today. As we meet that need, we will be helping to bring electricity to almost 800 million people who don’t have it today.
“We will also be helping to transform the lives of the 2.6 billion people who have no access to clean cooking and heating fuels,” he said.
He said the world needed all the energy solutions it could get: oil, gas, solar, wind, nuclear, and hydrogen.
This, he said was why the UAE was a first mover in renewable energy, over 16 years ago, the first country in the region to deploy nuclear power and why ADNOC was making today’s energy cleaner while investing in the clean energies of tomorrow.
According to him, ADIPEC is taking place against the backdrop of complexities which the world is facing.
Al Jaber, while pointing out examples of the steps ADNOC was taking to decarbonise its operations said ADNOC had connected its operations to zero carbon nuclear and solar power.
He said it was electrifying its offshore operations to cut its carbon footprint in half, adding that it was pressing harder on its methane intensity, even though it already had one of the lowest levels in the world.
”Moving forward, technology will be one of the greatest enablers of the oil and gas industry and this is an area where the industry can amplify and accelerate its impact,” he said.
He said global efforts should focus on a new, bold, realistic and pragmatic pathway that would benefits humanity, the climate and the economy.
“With COP27 (the 27th UN Climate Change Conference) meeting in Sharm el Sheikh in November and as the UAE prepares to host COP28 (the 28th UN Climate Change Conference), the Emirates Climate Conference, we need to hold back emissions, not progress,” he added.
The world is looking for solutions and I believe the energy industry can unite a divided world in finding them.
ADIPEC is the global energy industry’s most influential meeting place where ministers, energy leaders, and professionals convene to engage and identify opportunities that will unlock new valuein the energy landscape.
The 38th edition of ADIPEC, scheduled to hold from Oct. 31 to Nov. 3 is being held under the patronage of the UAE President, Sheikh Mohamed Al Nahyan.
It includes over 2,000 exhibiting companies as well as 28 international country pavilions.
