Innovation and strong partnerships are crucial to meet rising global energy demand at a time that there is growing pressure to lower carbon emissions to combat the risks of climate change, Andy Swiger, senior VP of ExxonMobil said at a keynote speech of the plenary session of ADIPEC in Abu Dhabi.
Swiger highlighted the need for the continued development of new technologies and the importance of partnerships among international oil companies (IOCs), national oil companies (NOCs) and host governments to meet future energy challenges. “In this way, we can work most effectively to achieve a high-energy, low-carbon future, ensuring that the evolution of energy continues to demonstrate the best of human ingenuity and achievement,” he said.
On a global scale, energy demand is expected to increase nearly 20% between now and 2030, with this enormous increase being more pronounced in developing countries. At the same time, concerns about the risks of climatechange are growing, warranting acrtion by governments, industry and consumers to recuce carbon emissions. “Meeting the challenge before us – of ushering in a high-energy, low-carbon era – requires innovation,” Swiger said.
The vice president stressed the importance of strong NOC partners and supportive host governments to address the dual challenges of energy efficiency and carbon reduction.
“NOCs often have strong, localised knowledge of the resource as well as valuable technical and managerial expertise. Host governments need to support the integration of innovation by upholding sound, stable policy and regulatory framerworks that encourage fair sharing of risk and rewards and establish a vision for their nation’s long-term resource development, and economic and social progress,” Swiger said.
