The commercial case for renewable energy has never been strong, according to Dr. Sultan Al Jaber, CEO of ADNOC Group and UAE climate envoy.
“Progressive climate action is not only necessary, it can also be a powerful economic driver, and if we do it right, it can actually put the world on a new low carbon/high growth development trajectory,” he said during a webinar with the Atlantic Council. “So we need to start looking at the climate challenge as an opportunity.”
The nation aims to be a “global leader in producing the maximum amount of hydrocarbons with the least emissions,” Al Jaber said during a webinar hosted by the Atlantic Council on Tuesday. “The world will still rely on oil and gas for decades to come, so that oil and gas has to be very low carbon. We are working to make our barrels the least carbon intensive in world.”
Among the nation’s plans are the growth of its hydrogen output and development of its carbon capture technology, which could reduce emissions during upstream operations.
“At ADNOC, we are well positioned to leverage our existing gas infrastructure and commercial-scale CCUS capabilities to develop blue hydrogen. In addition, we are exploring green Hydrogen through the Abu Dhabi Hydrogen Alliance, bringing together key energy and industrial players in the UAE. We recognize that the key to developing the hydrogen economy of the future will be aligning supply and demand, and developing the value chain connecting suppliers with customers in key markets. So, we are identifying viable international market opportunities and developing a roadmap to create a Hydrogen ecosystem to serve both the UAE and the global market.” said Al Jaber.
Al Jaber stated that the UAE would build on its track record of renewable and clean tech investments in over 70 countries around the world by seizing on new opportunities that make commercial sense, emphasising that the country was open to bringing ‘new partners on board.’
