The need for courageous entrepreneurship to tackle tomorrow’s key energy issues, using 5G to stimulate a drive towards sustainability and how collaborations can lead to faster, better and cheaper energy were among the issues addressed during the fourth and final day of the 24th World Energy Congress (WEC).

Maintaining the momentum of the previous three days of high-level discussions, the closing sessions at the World Energy Congress welcomed some of the UAE’s highest profile business leaders as well as distinguished industry figures, exciting young thinkers and government ministers under the theme of ‘Innovation: The pathway to prosperity”.

The last day saw extensive debates covering issues critical to the future of energy production, supply and distribution and how bold entrepreneurship can shape the culture of innovation needed in rapidly changing world. The day’s keynote speech saw Khalifa Hassan Alshamsi, Etisalat’s Group Chief Corporate Strategy & Governance Officer, explain how the newest generation of mobile technology can be harnessed to promote sustainability in the energy sector. His address, titled ‘Leveraging 5G to drive sustainability and enable innovation in the energy sector’ outlined how improved communication between individuals, companies and entities, including greater access to information and better utilisation of the internet, can boost the ongoing drive towards sustainability.

Alshamsi said: “5G is a new piece of technology that can revolutionise new industry. It is not only about speed but yes it will be phenomenal for VR and AR experiences. The session ‘Start-up Energy Transition: The power of the bold’ saw a panel of experts, among them the winners of this year’s Start up Energy Transition Award, debate, discuss and predict the most pressing energy challenges the world will face in years to come.

Marwan Bin Haidar, Executive Vice President of Innovation & The Future, Dubai Electricity and Water Authority, DEWA, joined the delegates to consider the new business models, technologies and ideas that will be at the forefront of the industry’s ongoing transition. Andreas Kulmann, Chief Executive of the German energy company Deutsche Energie-Agentur, echoed Bin Haidar’s comments adding that for start-ups “being bold is one thing, but being smart is another”. At the session ‘Pitch perfect: Best of the Start-up Energy Transition, SET,’ Michele Fiorentino, Chief Investment Officer, Adnoc, joined a panel of judges to consider the ideas set out by SET finalists to discover the next global game-changing idea or invention for the energy sector. An interactive, energetic and highly engaging event, the SET finalists were challenged to outline the benefits of their idea, its practical uses and why investors should get behind them as part of a professional pitch.

The closing plenary of the 24th World Energy Congress celebrated the event’s achievements and successes as well as reflecting on the innovative ideas and bold solutions that were formulated over four impactful days. Dr Christoph Frei, Secretary General & Chief Executive Officer, World Energy Council, moderated the final plenary of the week that celebrated the achievements of the first World Energy Congress to be held in the Middle East.

Speaking in front of an assembled audience, Suhail Al Mazrouei, Minister of Energy and Industry, said the previous days were an important step towards helping to reshape the future of the energy industry.

He said: “It has been an excellent World Energy Congress and the overall result of the discussions between ministers of the governments have led to an excellent outcome. We have agreed that all of us are committed to reduce the emissions that we produce and make sure that we can all work together to help serve the whole industry well.

“It is also important to understand that any type of energy is going to help us going forward. We have to make an impact so that in the future, we have cleaner air and water that will benefit the world.” Joining Al Mazrouei on stage was Alexander Novak, Minister of Energy, Russian Federation. As hosts of the next World Energy Congress in 2022, Novak said Russia will embrace the opportunity to build on Abu Dhabi’s success in hosting the energy industry’s flagship event in three years time.

Novak said: “I would like to invite all those present here to attend the Russian Energy Week as the perfect opportunity to follow up on the achievements of the World Energy Congress in Abu Dhabi. Dr Matar Al Neyadi, Undersecretary of the UAE Ministry of Energy and Industry and Chair of the 24th World Energy Congress, addressed the audience for the final time and outlined the importance of staging the 24th World Energy Congress in the region and the impact it will have on the Middle East and UAE for years to come. He said: “In the past few days we have had the opportunity to examine a wide range of issues impacting our industry. We have delivered a diverse mix of energy leaders and practitioners from around the world.

WAM