Abu Dhabi meet discusses energy security and climate progress

Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office, and Chairman of the Executive Committee of the Abu Dhabi National Oil Company’s (Adnoc) Board of Directors, has welcomed energy leaders from around the world to the 8th annual Abu Dhabi CEO Roundtable.

At the roundtable, held at the Adnoc Business Centre, 35 of the world’s leading energy industry chief executives gathered to discuss how to deliver energy security, equitable access to energy, and climate progress at the same time. During their deliberations they also discussed the building blocks required for a practical, realistic energy transition.

Sheikh Khaled welcomed the CEOs to the roundtable and commended Adnoc for bringing together the energy industry’s top executives. He also expressed hope that their discussions would help find practical solutions to the challenges of the energy transition.

In considering the trilemma of providing secure, accessible, sustainable energy, the roundtable participants discussed practical solutions, including decarbonising the production processes of hydrocarbons, leveraging hydrocarbon infrastructure to scale up the production of hydrogen, expanding renewable energy, and increasing investment in other clean technologies that can abate emissions in heavy industry.

The annual roundtable is a unique and exclusive, invitation only, gathering held under the Chatham House Rule. It provides a high-level forum for dialogue on the evolving dynamics of the energy industry and demonstrates Abu Dhabi’s voice in the conversation around the trilemma of energy security, access and sustainability, and its position as a global hub for the world’s energy industry.

Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of Adnoc, said, “The hydrocarbon industry is uniquely positioned to provide practical solutions to the trilemma of secure, accessible, sustainable energy and will play a critical role in delivering a successful energy transition. Ensuring energy security is fundamental to both economic and climate progress and global economies will continue to rely on reliable supplies of energy that our industry provides.

“The Abu Dhabi CEO Roundtable provides the ideal platform for leaders from the oil, gas and petrochemical sector to exchange views on how, collectively, we can support energy security, equitable access to energy and climate progress with realistic and practical solutions to the energy transition. With COP 27 coming up and as the UAE prepares for COP 28, it will be important to include all stakeholders who can positively affect the outcome, in particular the energy sector.”

The roundtable took place on the eve of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022, one of the world’s largest and most influential events for the global oil and gas industry, which runs until 3rd November at the Abu Dhabi National Exhibition Centre.

Khaled meets CEOs of Inpex and bp: Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan has held meetings with Takayuki Ueda, President and Chief Executive Officer of Inpex, and Bernard Looney, Chief Executive Officer of bp.

During the meetings, the partners discussed collaborating to enhance energy security and advance the energy transition, as well as opportunities to strengthen partnerships and drive greater cooperation in lower carbon energy solutions.

Sheikh Khaled also discussed ways of harnessing opportunities in renewables and hydrogen and expanding on existing relationships to enable a more sustainable future.

The meetings took place following the 8th Abu Dhabi CEO Roundtable — which brought together 35 energy leaders from around the world to discuss how to deliver energy security while providing equitable access to energy, and climate progress — and on the eve of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), which is taking place at ADNEC until 3 November.

Today, the UAE leads global efforts in clean and renewable energy through its strategies and investments in this field. In 2021, the UAE announced the UAE Net Zero by 2050 Strategic Initiative, with investments of more than DHS600 billion in clean and renewable energy until 2050.

This makes it the first country in the Middle East and North Africa to launch such an initiative. The UAE consistently supports global efforts to address climate change by announcing effective solutions that enable low-carbon sectors, as well as leading projects that support the country’s future strategies and aspirations, such as Masdar City in Abu Dhabi and the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.

The UAE hosts specialised international institutions in the green economy, such as the International Renewable Energy Agency (IRENA) in Abu Dhabi and the World Green Economy Organisation in Dubai, among other leading organisations.