Adnoc CEO Sultan Al Jaber has called for the world to produce from all the energy sources it can, while minimising emissions.
Speaking this morning at Adipec, Al Jaber said the world needed “all the solutions it can get”. This is not a question of developing just one resource, he said, but “oil and gas and solar, and wind and nuclear, and hydrogen. It is all of the above, plus the clean energies yet to be discovered, commercialized and deployed.”
Given global population is expected to reach nearly 10 billion people by 2050, we will also need 30% more energy in the future.
Halting investments in oil and gas would “make the shocks we have experienced this year feel like a minor tremor”.
Al Jaber said he had talked to President Sheikh Mohamed bin Zayed Al Nahyan recently and asked for his advice.
“His response was reassuring. He told me ‘we cannot ignore the realities on the ground. We need to face them, we don’t shy away from challenges. We address them by adopting a positive mindset and by working out solutions with like-minded partners.’ And then he added: ‘And remember, pursuing progress is in our DNA.’”
While Abu Dh has major hydrocarbon expansion plans, not least with its aim of reaching 5 million barrels per day of capacity by 2030, the company is also working on decarbonisation.
The state backed Masdar, the renewable energy company, 16 years ago, Al Jaber noted, and was deploying nuclear power.
“ADNOC is making today’s energy cleaner while investing in the clean energies of tomorrow,” Al Jaber said.
The company takes its electricity from nuclear and solar power, he said, while work is under to electrify offshore operations.
“And, we are pressing down harder and harder on our methane intensity, even though we already have one of the lowest levels in the world. Maximum energy, minimum emissions.”