ADNOC declares that global efforts to combat climate change must include oil and gas.
ADNOC takes a stand for oil and gas
“This is a great lesson learned. We have to change gears, we have to go back to the drawing board,” said Sultan al-Jaber, who is also UAE Minister of Industry and Advanced Technology, at the first annual Saudi Green Initiative conference in Riyadh.
An aggressive and ambitious energy transition must include oil and gas, he adds.
According to him, basic hydrocarbons are the “spinal cord” of our ability to meet energy needs.
The United Arab Emirates (UAE) has its own clean energy objectives.
Even as they increase their crude oil production capacity.
They recently announced their intention to become carbon neutral by 2050.
According to BP ‘s latest World Energy Statistics report, the country holds the eighth largest oil reserves in the world.
The vast majority is in Abu Dhabi.
In the run-up to COP26
Mr. Jaber’s comments were made ahead of the United Nations (UN) climate change conference due to start on October 31 in Glasgow, Scotland.
Abu Dhabi officials have outlined plans to produce half of the emirate’s energy from clean, renewable sources, includingnuclear power, by 2050.
This would enable the UAE to meet its climate targets under the UN’s Paris Agreement, while freeing up more crude oil for profitable exports and diversifying its economy.
To this end, ADNOC and Mubadala have signed agreements with international oil companies such as Eni and TotalEnergies to explore joint projects in hydrogen, CCUS and renewable energies.
The Emirati company has also signed several agreements to sell blue ammonia, derived from hydrogen, to Japanese companies.
