Adipec to discuss energy security and sustainability amid green transition efforts

More than 40 ministers to speak at the event, including energy ministers from the UAE, Kuwait, Iraq and Bahrain

UAE's energy minister Suhail Al Mazrouei speaking during the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) last year. Photo: Victor Besa/The National.

Top global oil executives and more than 40 ministers will gather in Abu Dhabi to discuss how to respond to the current global energy-market challenges as oil markets remain volatile in the wake of Russia’s military offensive in Ukraine and as growing recession fears hit demand.

The Abu Dhabi International Petroleum Exhibition and Conference (Adipec), which will run from October 31 to November 3 at the Abu Dhabi National Exhibition Centre, will also focus on climate action and sustainability commitments as the world intensifies efforts to limit global warming and protect the environment.

“This year, Adipec takes place against a backdrop of changing global energy and geopolitical landscapes, with the energy trilemma of balancing cost, sustainability, and security in sharp focus for populations and energy producers around the world,” Tayba Al Hashemi, chairwoman of Adipec 2022 and chief executive of Adnoc Sour Gas, said.

“Taking place just one week before Cop27 in Egypt and one year before Cop28 in the UAE, Adipec will provide an important platform for industry, innovators and policymakers to demonstrate the strategies, climate action and investment required to help accelerate the transition and deliver decarbonisation.”

Energy security challenges continue to rise globally amid supply concerns as a result of the Ukraine crisis and the drop in oil and gas investments as the world focuses on cutting emissions.

Total investment in the upstream sector of the oil and gas sector fell 23 per cent below pre-coronavirus levels to $341 billion last year, while oil demand continued to rise globally, according to a report by the International Energy Forum (IEF) and IHS Markit.

The Abu Dhabi International Petroleum Exhibition and Conference will run from October 31 to November 3 at the Abu Dhabi National Exhibition Centre. Photo: Adipec

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

Eight ministers from the Mena region including Dr Al Jaber, UAE Minister of Energy and Infrastructure Suhail Al Mazrouei, Kuwait’s Deputy Prime Minister, Minister of Oil and Minister of State for Cabinet Affairs, Mohammad Al Fares, as well as Iraq’s oil minister Ihsan Ismail, are confirmed to speak during the four-day event.

Bahrain’s Minister of Oil and Environment and Special Envoy for Climate Affairs Mohamed Bin Daina, Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla and Jordan’s energy minister Saleh Al Kharabsheh will also speak at the event this year, according to a statement from the organisers on Thursday.

Adipec this year will also feature a new Decarbonisation Zone, focusing on methane, hydrogen, Carbon Capture Utilisation and Storage and new energies, highlighting the industry's path towards net zero through the deployment of cleaner forms of energy and innovative technologies.

More than 12,000 delegates are expected to attend the event.

Ministerial panel discussions this year will include sessions on “Geopolitics of today: how the energy industry is navigating through change”, and “Cop27: key policy considerations to deliver net zero ambitions in an uncertain time,” organisers said.