Oil and gas industry to play key role in climate change Sultan Jaber
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| Oil and gas industry to play key role in climate change: Sultan Jaber |
Abu Dhabi, January 20, 2021 (WAM). Dr. Sultan bin Ahmed Al-Jaber, Minister of Industry and Modern Technology and Group CEO of Abu Dhabi National Oil Company (ADNOC),
said Biden was part of a global effort to mitigate the effects of climate change by accelerating economic recovery in the wake of the UAE crisis. Looking forward to working with the management.
He expressed these views during the 5th Atlantic Council Global Energy Forum, which is being held on a virtual basis under the Abu Dhabi Stability Week (ADSW). Dr. Sultan bin Ahmed Al Jaber said that our strategic alliance with the United States is very strong. As the two countries recover from the epidemic, I am convinced that there are many opportunities for cooperation in the energy sector and in many other areas. "There is scope for enhancing cooperation in the non-conventional oil and gas sectors, which we are considering in Abu Dhabi," he said. "We have very clear opportunities to promote cooperation in performance-enhancing technologies, reduction of hydrogen and carbon emissions and new technologies for renewable energy," he said.
He said that all these will provide practical solutions to the challenge of climate change. The Minister for Industry and Modern Technology said that oil and gas would play a significant role in low carbon transition in the future and should be the focus of discussion on climate change. He emphasized that the world would be dependent on oil and gas for decades to come, and that the UAE was investing in its barrels to further reduce its carbon footprint.
Dr. Al-Jaber said that the UAE has a double advantage here. A leadership that has always made environmental protection a top priority and another natural benefit because our land gives us the lowest carbon dioxide in the world.
Over the next 10 years, the carbon footprint will increase by another 25%, increasing efficiency and expanding our industrial-scale CCUS facility, the first and largest in the region," he said. He said the UAE was exploring the potential for new fuels such as hydrogen, which could be a game changer in energy transfers. He said the business would grow once its markets were established and that the UAE was striving to be the largest supplier of blue hydrogen.
Dr Al-Jaber called for smart investment in new energy to create a viable diversified energy mix and said the UAE was diversifying its energy mix as it could lead to sustainable development and combat climate change. Can be done He said that the UAE has always been a positive partner for global challenges and the challenge of climate change is no different. This is the principle that led us to launch the source 15 years ago and make it a clean technology hub. He said the source is an active investor in renewable energy in the UAE and around the world. It has projects in 30 countries, including the United Arab Emirates. The Industry Minister said that smart investment in diversifying the energy mix could be very profitable. Reiterating the UAE's commitment to tackling climate change, Dr. Al-Jaber said the UAE was the first country in the region to sign the Paris Agreement. He said that this was after the submission of the UAE's Second National Level Partnership (NDC) to the Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC) last month. It has become the first country in the region to reduce emissions economically.
He highlighted the importance of the UAE's close multilateral strategic relationship with the United States and said that the UAE and the United States are engaged in a deep relationship based on shared values and strategic interests. He said relations between the UAE and the United States are diverse, including diplomacy, security, energy, trade and culture. In short, we are committed to promoting peace, creating opportunities and achieving prosperity, and the Abrahamic Treaty is a prime example. "With the diplomatic support of the United States, we have for the first time built a bridge between Israel and the Gulf states," he said. He said the agreement was increasing economic opportunities for Israel and the region as a whole. At the end of the meeting,
Dr. Sultan bin Ahmed Al Jaber presented his views on the need to balance the need for economic growth in emerging economies with the need to address the effects of the global climate.
He said that UAE would continue its role in this regard as a responsible country. A meeting of the Atlantic Council Global Energy Forum is underway in collaboration with the Ministry of Energy and Infrastructure of the United Arab Emirates. The forum is being held virtually from January 19 to January 22 in which international and regional experts are considering the long-term geopolitical and geopolitical implications of the changing energy system. Translation: Riaz Khan.
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