In his opening speech at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2023), Minister of Industry and Advanced Technology and President-designate of the Conference of the Parties (COP28), Dr. Confirmed by Sultan Bin Ahmed Al Jaber. In line with the vision of the leadership in the United Arab Emirates, (COP28 Presidency) faces challenges head-on and mentally positively, collaborates with partners who follow the same visions, ideas and trends, ensures the participation and inclusion of all, and achieves economic growth 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 industry to coordinate efforts to reduce emissions and take ambitious climate action within the framework of a Fair, Orderly, Responsible and Action Plan (COP28 Presidency). A logical shift in the energy sector, and to protect the possibility of avoiding a rise in temperature, is the Earth’s 1.5°C.

Al-Jaber renewed his call for ambitious measures to achieve climate neutrality by 2050, eliminate methane emissions, and end gas flaring activities by the end of the current decade. He appreciated the response of more than 20 oil and gas companies. Accept this call, whether international or national, and take practical steps to reduce emissions resulting from energy production processes.

He said: “It has taken time, effort and months of negotiations, hard work and collaboration, but we look forward to more companies joining us and starting to take the necessary steps to accelerate and expand our commitment to reducing emissions. I invite everyone to join us in this commitment during the COP28 conference, And I call on everyone to raise the bar of ambition and take the necessary practical steps to achieve effective and tangible results.

Al Jaber stressed that “the oil and gas industry must lead the process of finding the necessary solutions”, calling on the companies involved to demonstrate to the world that they are an essential part of the solution. Those who doubt the sector’s ability to contribute to solutions mean providing more capital and technical solutions to achieve the desired results.

Al-Jaber reiterated the need for the world to cut emissions by 43% over the next seven years to maintain a chance of avoiding global warming above 1.5°C. and can be simultaneously achieved by meeting the energy needs of the planet’s growing population while ensuring the well-being and prosperity of humanity.

He identified three priorities for needed action: reducing emissions resulting from energy production, increasing the productivity of renewable energy sources and reducing emissions from sectors that are difficult to mitigate emissions such as steel, cement, aluminum, heavy transport. , and others.

He expressed his confidence in the ability of the oil and gas industry to increase the production capacity of renewable energy sources, which represents an opportunity to diversify its business models and ensure it remains on pace for the future.

He explained that the “intermittent” nature of renewable energy supplies meant that emissions-intensive industries were unable to offset the primary load of electricity. is difficult to mitigate.

In his speech, Al Jaber emphasized the need to tackle pressing issues including expediting licenses for clean energy projects, overcoming barriers to the commercial use of hydrogen and expanding the scope for the use of carbon capture technologies.