Hydrocarbons will always play a role in global energy requirements, but their production should be using low-carbon extraction and production solutions. That’s why the UAE is well-placed to play a leading role in the global energy sector for years to come.
This was the message from Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the UAE Ministry of Energy and Infrastructure.
"I see no scenario in which there will be zero hydrocarbons required. But only producers that are low in carbon intensity are going to survive. And the UAE is in a good position," he said.
In a fireside chat, he noted that the UAE has always sought an energy mix, beginning in 1973 with the formation of Abu Dhabi National Oil Company Liquified Natural Gas (Adnoc LNG), the first company in the Middle East to liquify natural gas and eliminate offshore flaring.
Al Olama went on to outline the reason behind the UAE’s well-established reputation as a first mover in the energy industry, referring to the establishment of Masdar in 2006, the UAE’s ratification of the Paris Agreement in 2015, the launch of the UAE Energy Strategy 2050 in 2017, and, most recently, this year’s UAE Hydrogen Leadership Roadmap and the UAE Net Zero by 2050 Strategic Initiative.
"There is a strong track record," Sharif Al Olama said. "The UAE has the recognition from the international community as being a serious climate action leader."
However, this doesn’t mean the end of hydrocarbons. "The most important part I want to highlight here is that there has to be a proper and right energy mix. And hydrocarbons will be a part of that energy mix.
