Adipec to address key challenges in the energy sector ahead of Cop27

Event will highlight role of oil and gas industry in energy transition as high-level discussion point

Adipec is one of the premier industry events of the global energy sector. Victor Besa / The National

Abu Dhabi International Petroleum Exhibition and Conference (Adipec) this month will discuss “fresh perspectives” to address key challenges in the energy sector in the lead-up to the Cop27 summit in Egypt in November.

The major industry event — which will be supported by President Sheikh Mohamed and hosted by Abu Dhabi National Oil Company (Adnoc) — will highlight the role of the oil and gas industry in energy transition as a high-level discussion point, the Abu Dhabi Media Office said on Tuesday.

Adipec will be held from October 31 to November 3, shortly before UN climate change summit Cop27, which will run from November 6 to 18 in Sharm El Sheikh. The UAE will be hosting Cop28 next year.

“Discussions surrounding the role of oil and gas in the energy transition are as crucial as ever, as we move to cleaner forms of energy and seek ways to reduce our carbon footprint,” said Suhail Al Mazrouei, Minister of Energy and Infrastructure.

“With Cop27 taking place just days after, it is imperative that we leverage this opportunity to identify solutions for how we can drive sustainable value for generations to come.”

The world's major economies are seeking ways to boost co-operation to ensure energy security.

Oil and gas will account for more than 50 per cent of the global energy mix by 2045 and will continue to play an important role even as the world pivots towards cleaner forms of energy, Opec officials had said in March.

Spending in the oil and gas industry took a hit during the Covid-19 pandemic and the push by governments to transition to cleaner forms of energy.

The oil and gas sector needs $600 billion worth of investments until 2030 to keep pace with rising demand, according to Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc.

Energy transition requires a “practical”, realistic and collaborative approach to ensure that it is just and addresses the triple challenges of climate progress, energy security and economic prosperity, Dr Al Jaber, who is also the UAE's Climate Change Special Envoy, said last month.

“Adipec 2022 will see a greater diversity of attendees than ever before,” said Christopher Hudson, president of organiser dmg events.

“Their fresh perspectives and challenging views insight will inspire the creative and critical thinking required to shape the agenda that will drive our industry forward and navigate the energy transition.”