The recent Adipec 2022 has generated an estimated $8.2 billion in business for exhibiting companies, a survey conducted across the 2,200 exhibitors has revealed.
Among the significant deals at Adipec 2022 was the signing of the historic agreement between the UAE and the US to catalyze $100 billion of investment in renewable energies and clean technologies in the UAE, US and emerging economies around the world by 2035, a WAM report said.
Adipec also witnessed an agreement between Petronas, Accenture and Amazon Web Services (AWS) to optimize the logistics operations and costs of offshore vessels using AWS technologies.
The Adipec survey also revealed that 97% of exhibitors met or exceeded their objectives through their participation, with 93% rebooking for Adipec 2023.
Adipec took place in Abu Dhabi from October 31 to November 3, gathering some of the best minds from energy markets around the world to address critical issues facing the energy sector, including the trilemma of security, affordability and sustainability of energy supply.
The future of energy was discussed across more than 350 sessions, where over 40 ministers and 38 global CEOs, policymakers, energy experts and innovators shared their views on achieving a progressive and pragmatic transition and the significant role of investment and collaboration in the path to Net Zero.
Adipec 2022 saw a record global attendance of more than 160,000 attendees from 164 countries, with 41% coming from abroad. The UAE saw an estimated value of $200 million brought in through sectors that supported the four-day event, including tourism and hospitality.
Tayba Al Hashemi, Adnoc Sour Gas CEO and Chair of Adipec 2022, said: "Adipec 2022 set out the need for a bold and realistic energy transition, an approach that is both pro-climate and pro-growth if we are to successfully chart a future of energy that is secure, sustainable, and affordable. The event's positive impact is not only felt here, in Abu Dhabi and the UAE, but by the global energy industry and governments, who continue to turn up in larger and larger numbers each year."
"The record-breaking numbers of attendees and deals speak for themselves, but I have also been listening to feedback from attendees. They value Adipec because it fuses together strategic thought leadership and industry insight alongside commercial deal-making, the largest technical innovation conference programme, and a huge exhibition showcasing the latest in climate and optimization technologies. Adipec continues to reinforce the role of the UAE and Abu Dhabi at the heart of the global dialogue on the future of energy."
Global progress on climate action, the energy transition and the energy trilemma will be in sharp focus next year, as the UAE welcomes global leaders to the country for COP28 – The Emirates Climate Conference with the UNFCCC.
Adipec 2023, taking place in Abu Dhabi from October 2 to 5, about a month before COP28, will be particularly meaningful in framing industry discussions around some of these key challenges energy markets face today.
Christopher Hudson, President of dmg events, organizers of Adipec 2022, said: "Adipec 2022 has shown the world that it is so much more than a hydrocarbon show. It is a strategic platform for climate and technology, bringing together key stakeholders to engage with a broad range of voices across the global value chain, collaborating and driving the energy transition dialogue forward.
"This has directly translated into commercial benefits for attendees and significant benefits to the economy, as well as helped shape important industry discussions, demonstrating the fundamental role of collaboration in the transition to Net Zero."
Decarbonization was a key theme across the four days of the event, with a first-of-its-kind, dedicated Decarbonization Zone and Conference at Adipec. Experts shared their views on the latest innovations that will enable stakeholders to address the growing demand for green solutions, attract strategic partnerships and cross-industry participation, generate funding mechanisms, and convert innovative ideas into a practical solution towards leading a cleaner energy future.
Industry efforts towards climate action were further reinforced by An Eye on Methane: International Methane Emissions Observatory 2022, a report launched by the UN Environment Programme (UNEP), which found that more than 80 oil and gas companies across the world have committed to measuring and reducing their methane emissions. UNEP advised that companies needed to do significantly more to cut methane emissions and tackle climate change.