NOCs, IOCs, NECs and IECs
ABU DHABI, 1 November 2022 – ADIPEC 2022, the world’s largest and most inclusive international energy platform, introduced a dedicated Decarbonization Zone this year to facilitate meaningful and inclusive dialogue and collaboration to tackle energy security, affordability, and sustainability.
During the conference session entitled ‘Decarbonising the downstream and petrochemical sectors: an ecosystem of change for downstream players’, Vimal Kapur, President and COO, Honeywell said: “To advance the energy transition, what we’ve done in the last 100 years has to be done four times faster.
“For this to happen, the three important levers are technology, collaboration and government policy. We’ve seen that when these elements come together, decarbonising projects, such as Sustainable Aviation Fuel (SAF), are implemented quickly and it’s clear that we don’t have time to waste. There are several other similar opportunities, like emissions control, that we have to be open for.”
Some of the best minds from energy markets around the world are gathered in Abu Dhabi to address the most pressing energy and climate challenges we face today. At the ADIPEC Opening Ceremony yesterday, His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO, ADNOC, called for “maximum energy, minimum emissions” and stressed that “the world needs all the energy solutions it can get: oil, gas, solar, wind, nuclear, and hydrogen”.
His Excellency Suhail Mohamed Faraj Al Mazrouei, UAE Minister of Energy and Infrastructure, highlighted the importance of diversifying energy sources, as well as reducing emissions, when discussing the ongoing work that the UAE is doing to achieve Net Zero by 2050.
The decarbonization of global energy production is central to achieving Net Zero by 2050. The introduction of the dedicated Decarbonization Zone and Conference at ADIPEC 2022 reflects this and provides a platform for global experts to share their insights into the most innovative strategies and technologies.
Speakers specialising in methane reduction urged the industry to take urgent action. During the Decarbonization Conference session titled ‘Operational mitigation action to reduce leakages’, Frigyes Lestak, CEO of Flare2Valve said: “We’re working to solve flaring urgently. There is 140 bcm (billion cubic metres) flaring per day. This would be enough to heat 50 million homes per year. Many flare reduction products are economical. You don’t need new technology. Don’t hesitate, act now. We don’t have a few more years.”
To speed up the industry’s emissions reduction, Peter Harding, Founder & CEO of Kelvin said: “Be brave. It’s about the willingness to try change that may not work perfectly and put it in a place that’s safe and can create improvement.”
Harding said technology that focuses on root cause analysis of methane leaks can result in a 10-20 per cent increase in production, while reducing methane emissions – making certain technology economically compelling. Such technology also empowers engineers to have more impact.”
The zone includes a forum for leaders in the energy ecosystem to discuss low-carbon technologies, and to showcase the essential role that the oil and gas sector is playing in accelerating the transition from fossil fuels to cleaner forms of energy.
Christopher Hudson, President of dmg events, organisers of ADIPEC 2022 said: “The energy industry has an urgent need for collaboration on solutions that will decarbonise the sector. This is taking shape at ADIPEC this year through discussions on strategies, technologies, innovation, supply chain and more. With leaders, policymakers, developers and suppliers across the value chain present at ADIPEC, I’m confident about the outcome of workable solutions to propel the energy transition and a sustainable future.”
Bart Cornelissen, Energy, Resources & Industrials Leader at Deloitte said, “The Middle East is playing a pioneering role in the energy transition, as it possesses a built-in advantage and a head start in this journey. Major projects are taking place in the region to produce blue as well as green hydrogen, and the United Arab Emirates and Saudi Arabia are becoming major blue hydrogen and ammonia exporters by leveraging their existing midstream and downstream infrastructure.”
“As oil and gas companies continue to pledge support to net-zero goals, their needs continue to grow when it comes to figuring out new means to get there. We are present today at ADIPEC as part of our ongoing efforts to support these companies through this highly complex transition, sharing best practices that enable them to seize opportunities and navigate risks as they go through this transition,” he added.
Under the theme of ‘The Future of Energy: Secure, Affordable and Sustainable’ the leading global energy event takes place the week before COP27 in Egypt, and as the UAE prepares to host COP28. ADIPEC is enabling the global energy industry to reframe the energy transition debate, to ensure it is realistic, inclusive and equitable, as well as pro-climate and pro-growth.