Sunday, April 2 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Mar 27
Week of Mar 20
Week of Mar 13
Week of Mar 06
Week of Feb 27
By Topic
By News Partner
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    UAE's oil firm chief to head country's COP28 efforts

    January 20, 2023 - Country Report


      What's happened?

      The UAE has appointed Sultan Ahmed al-Jaber, the chief executive of Abu Dhabi National Oil Company (ADNOC, the state hydrocarbons firm), to lead the annual COP28 international climate change summit that will take place in Dubai in late 2023. The choice is consistent with the UAE government's stance that it can combine the role of a champion of clean energy and emissions reduction-domestically and through investments abroad-with that of an expanding oil and gas producer.

      Why does it matter?

      Mr Jaber is also the UAE's federal climate change envoy and a former chief executive of Masdar, the Abu Dhabi government's clean energy company. The UAE has the highest regional uptake of renewable energy and an ambitious domestic net-zero emissions target of 2050. However, critics have pointed to Mr Jaber's leadership of ADNOC, which is in the midst of expanding the UAE's oil production capacity by 25%, to 5m barrels/day by 2027. ADNOC has also pushed forward with major gas capacity plans, announcing progress on contracting major sour gas projects at two giant fields, Hail and Ghasha, in mid-January.

      The UAE plans to use its vast, predominantly oil-generated wealth to become a leading global investor in clean energy, primarily through Masdar, which aims to have 100 GW of renewables capacity worldwide by 2030. UAE policymakers are working on the basis that the country can be both a major hydrocarbons producer-contending that hydrocarbons will be needed for several more decades-and a champion of decarbonisation. Masdar is also spearheading government plans to become a major producer of low-carbon hydrogen, which is seen as a likely longer-term alternative to hydrocarbons-sourced energy. ADNOC became the main shareholder in Masdar's green hydrogen business in December, and is working with state and private firms in several European and Asian countries to develop blue and green hydrogen supply chains.

      The UAE will seek to decarbonise the production process; in January ADNOC announced that by 2030 it would invest US$15bn, including in carbon sequestration and renewable power usage, to reduce the carbon intensity of its operations. However, this is dwarfed by the firm's US$150bn overall hydrocarbons capital expenditure programme for 2023-27.

      What next?

      The UAE is expected to make the reducing the carbon footprint of oil and gas output, rather than eliminating such production, a major theme at COP28. Abu Dhabi aims to take a global lead in this area, seeking to preserve long-term demand for hydrocarbons as decarbonisation gains a higher global profile. Government entities will continue to invest heavily in clean energy production overseas, to diversify long-term revenue streams, improve the UAE's international reputation and build geopolitical influence.


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.