The Minister of Industry and Advanced Technology, the President-designate of the Conference of the Parties (COP28), Dr. Sultan bin Ahmed Al Jaber, confirmed in the opening speech of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2023), that in line with the vision of the leadership in the UAE, the (COP28 Presidency) faces the challenges directly and mentally Positive, in cooperation with partners who adopt the same visions, ideas and trends, to ensure the participation and inclusion of everyone, and to achieve economic development that supports climate action, in order to build a sustainable future for current and future generations.
In his speech, Al-Jaber called on the oil and gas sector to combine efforts and carry out ambitious climate action to reduce emissions, within the framework of the action plan (COP28 Presidency), which aims to achieve a fair, orderly, responsible and logical transition in the energy sector, and preserve the possibility of avoiding exceeding the rise in temperature. Planet Earth level is 1.5 degrees Celsius.
Al-Jaber renewed his call on the sector to take ambitious steps to achieve climate neutrality by 2050, eliminate methane emissions, and stop gas burning operations before the end of the current decade. He praised the response of more than 20 oil and gas companies, whether international or national, to this call in a positive way. Positively, and take practical steps to reduce emissions resulting from energy production processes.
He said: “This took time, effort and many months of negotiations, hard work and cooperation, but we are still waiting for more companies to join us and start taking the necessary measures to accelerate and expand the scope of reducing emissions. I will call on everyone to participate in this commitment during the COP28 conference, and I will also call on everyone to raise the bar of ambitions and take the necessary practical measures to achieve effective and tangible results.”
Al Jaber stressed that “the oil and gas sector must lead the process of finding the required solutions,” calling on relevant companies to prove to the world that they are an essential part of the solution, pointing out that the basic requirements for responding to those who doubt the sector’s ability to contribute to solutions are to provide more Capital and technological solutions to achieve the desired results.
Al-Jaber reiterated the world’s need to reduce emissions by 43% over the next seven years, to maintain the possibility of avoiding global warming exceeding the level of 1.5 degrees Celsius, indicating that this basic goal that the world seeks is consistent with scientific facts, and can be achieved simultaneously. While ensuring the well-being and prosperity of humanity is maintained, by meeting the energy needs of the planet’s growing population.
He identified the three priorities for the necessary measures, namely, reducing emissions resulting from energy production, increasing the production capacity of renewable energy sources, and reducing emissions from sectors whose emissions are difficult to mitigate, such as steel, cement, aluminum, heavy transportation, and others.
He expressed his confidence in the ability of the oil and gas sector to play a major role in increasing the production capacity of renewable energy sources, which represents an opportunity to diversify its business models and ensure that they keep pace with the future.
He explained that the “intermittent” nature of renewable energy supplies causes them to be unable to cover the primary load of electricity in emissions-intensive industries, which confirms the necessity of relying on low-carbon solutions to reduce the emissions of sectors whose emissions are difficult to mitigate.
In his speech, Al Jaber stressed the need to deal with pressing issues, including accelerating licenses for clean energy projects, overcoming obstacles that hinder the use of hydrogen on a commercial scale, and expanding the scope of application of carbon capture technologies.
2023-10-02 22:09:58
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