2023-10-05 17:45:41
Abu Dhabi, 5 October / WAM / The curtain came down today on the activities of ADIPEC 2023, which witnessed the presentation of a clear message from all concerned parties to confirm their consensus on the commitment to reduce emissions and accelerate the pace of the energy transition while continuing to meet global energy needs.
ADIPEC 2023 achieved a record number of participants, following this year’s edition of the conference was the largest in its history, with 184,000 participants attending.
This year’s edition of “ADIPEC” represents an extension of a legacy of nearly 40 years, and the conference succeeded in expanding not only in size, but also in scope, following “ADIPEC 2023” brought together energy leaders from around the world and contributed to amplifying the voices of related sectors – including the sector. Financial and technology sectors – to accelerate the urgent collective action and radical solutions needed to reduce emissions faster and prepare the energy system for the future.
His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and President-designate of the COP28 Conference of the Parties, had opened the activities of “ADIPEC 2023” by calling on energy sector leaders to take advantage of this event to benefit from “the opportunity to confirm to the entire world that you are the key to the solution” that will contribute to accelerating the energy transition process. Ensuring energy security while urgently phasing out emissions.
This call received deaf ears in the sector, as 1,600 ministers and leaders from the energy sector shared visions and developed strategies for reducing emissions and future energy systems over the course of 350 sessions that were scheduled for this purpose.
As the last major energy sector event before the Conference of the Parties (COP28) in the UAE next month, ADIPEC focused on a range of priorities, such as achieving net-zero methane emissions by 2030, and expanding the use of climate technology to address key challenges. To build the energy system of the future – technology and innovation, investment, energy security and more – to enable the sector to demonstrate its commitment to reducing emissions without sacrificing economic growth where it is needed most.
Taiba Al Hashemi, President of ADIPEC 2023 and CEO of ADNOC Offshore, said: “The year 2023 has been an exceptional year for ADIPEC… As we continue to work to meet the world’s growing energy needs and respond urgently to the challenges posed by climate change, ADIPEC is in a new format that is bigger and bolder than before. This event works to unify ranks between countries, sectors, companies and individuals across the energy system to take concrete steps to accelerate the pace of energy transformation and build a future that witnesses lower levels of carbon and higher levels of growth.
She added: “As we approach critical years in the journey towards net zero emissions, ADIPEC has proven that today’s energy sector has the knowledge, capital, technology and qualified personnel necessary to be part of the solution to reduce emissions and transform current energy systems for the better.”
The ADIPEC 2023 agenda reflected the sector’s priorities, which centered on efforts to reduce emissions, opening the way for serious discussions regarding the possibility of achieving net zero emissions in heavy sectors, such as aviation and cement production, and how to develop circular economies.
Regarding the unique challenges facing specific sectors in their journey towards reducing emissions, Pavan Chilokuri, Vice President of Carbon Capture, Utilization and Storage Strategies at Holcim, said: “We will not reach net zero emissions if we do not reduce emissions from buildings… and with the continued growth in the population.” Globally, the demand for building construction will continue to rise. We are constructing buildings equivalent to New York City every month, and we will do this every year until 2040. The challenge is: How can we achieve this with lower carbon intensity?
During a session on asset portfolio models, Olivier Le Bouche, CEO of SLB, said: “The sector has realized, in the run-up to the launch of COP28, that its ability to continue operating will depend on its ability to innovate: innovate for performance, And innovation to reduce emissions… and provide higher value and lower carbon levels for the future of oil and gas… The sector has realized this, and now it must act.”
The 2023 edition of ADIPEC succeeded in consolidating its position as the most important international platform for the energy sector to unify ranks and cooperate.
The conference witnessed the signing of many agreements, including Baker Hughes announcing that it had won a contract to supply compression systems for natural gas liquefaction that operate entirely on electricity produced from clean energy sources for ADNOC’s low-emission liquefied natural gas station in Ruwais. Petrofac won a $600 million contract with ADNOC.
The Department of Economic Development announced that Abu Dhabi will provide 100 investment opportunities with a total market size of 123.3 billion dirhams ($33.5 billion) by 2027.
1PointFive, a subsidiary of OXY, signed an agreement with ADNOC to begin a jointly funded preliminary engineering study for a project for a direct air capture facility with a volume of one million tons per year in the United Arab Emirates.
The Department of Economic Development in Abu Dhabi revealed 33 new investment opportunities targeting chemical industries with a value of $6 billion.
With the participation of more than 2,200 companies, 30 international pavilions and more than 350 sessions, ADIPEC 2023 continued to confirm its position as the most important international platform for the energy sector.
For his part, Christopher Hudson, President of DMG Events, said: “As we conclude this exceptional edition of ADIPEC, which has pleased us with the great momentum shown by the participants to promote solutions to reduce emissions and build the energy system of the future… the results of the fruitful discussions that took place will have “It is resonating across the sector and beyond, and I look forward to seeing what can be achieved between now and ADIPEC 2024.”
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