ADIPEC 2022 to drive the future of the energy

Under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, ADIPEC has evolved to reflect a rapidly changing global energy landscape. In an exclusive interview, His Excellency Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, United Arab Emirates, shares his thoughts with ADIPEC News on how the flagship global energy event will engage the industry in answering the most pressing questions under the theme of ‘The Future of Energy: Secure, Affordable and Sustainable’.

Your Excellency, what is the main significance of this year’s ADIPEC and what are you looking forward to at the world’s most influential energy event?

ADIPEC 2022 brings the world together for the largest global energy industry event to advance a pro-climate and pro-growth energy transition. It reinforces Abu Dhabi and the UAE’s status as a unifying and convening power at the center of the global dialogue on the future of energy – a future where energy must be secure, affordable, and sustainable. With a record of global participation, ADIPEC this year will be the global platform for the energy industry to showcase its evolving role in a pragmatic and progressive energy transition that is both pro-climate and pro-growth.

The global industry must use ADIPEC this year to highlight the action they are taking to meet the world’s energy needs and rapidly decarbonise oil and gas production while investing to diversify into new and cleaner energy sources. With the new realities of the changing global energy ecosystem now sharply in focus, I look forward to exploring the strategies and commitments on energy security, sustainability, and decarbonisation that are setting the pace for change across the industry and delivering impactful results.

Your Excellency, how critical will this year’s ADIPEC be in reconnecting the global energy industry ahead of COP27 and in the build-up to COP28?

Taking place just one week before COP27 in Egypt, and as the UAE prepares to host COP28 next year, ADIPEC this year is where the global energy industry can reframe the energy transition debate to ensure it is realistic, inclusive, and equitable. ADIPEC this year is taking place at a time of unprecedented complexity in energy markets and the global economy, as industry and governments work to achieve energy security with fewer emissions and also plan for a clean energy future. The event will therefore be the global platform for the energy industry to discuss and deliberate the pathway to tackling the dual missions of delivering the world’s energy needs of today while investing in the energy systems of the future.

ADIPEC this year is taking place at a time of unprecedented complexity in energy markets and the global economy, as industry and governments work to achieve energy security with fewer emissions and also plan for a clean energy future

As the UAE prepares to host COP28, how does ADIPEC contribute to making next year’s climate conference inclusive for the global industry?

The UAE is the first country in the Middle East and North Africa (MENA) to announce a Net-Zero by 2050 Strategic Initiative. Our endeavor is to build a balanced energy system that is both cost-effective and reduces emissions, and that’s why the future of the energy industry in the UAE is not only promising but also sustainable. As the UAE prepares to host COP28 in 2023, we have already made clear that it will be a COP that gives a voice to all parts of society, developed and developing countries, the public and private sector – including a responsible energy industry – as we build momentum in the transition. ADIPEC 2022 convenes the best minds from every corner of the world to explore solutions to global energy challenges by promoting peace, progress, prosperity, and human development in our journey to a low-carbon future.

What role does the UAE’s hydrocarbon industry play in the journey to a lower-carbon future? What are your thoughts on the UAE’s diversification of energy sources?

The UAE plays a pivotal role in securing oil supplies worldwide. Abu Dhabi National Oil Company (ADNOC) is a supplier of some of the world’s lowest carbon-intensive oil and gas. The UAE’s pursuit of low-carbon energy is based on the pillars of supply security, sustainability, and a cleaner future – which is why we have taken proactive measures for decarbonisation, curbing emissions, and attracting the long-term capital investment needed for a sustainable future.

We are significantly augmenting the capacity of our hydrocarbons sector to strengthen energy security, boost economic stability and meet global demand. Our ambitious upstart investment plans will lead to an increase in the country’s oil production capacity to 5 million barrels. At the same time, our focus on diversifying energy sources is not new – the UAE formulated an energy diversification and security strategy nearly 15 years ago and embarked on that journey to reduce carbon emissions.