Hosted by ADNOC, the occasion runs till Thursday, November 6, bringing collectively world power leaders, policymakers and traders.
Delivering the keynote handle on the forty first version of ADIPEC, Dr Sultan Ahmed Al Jaber, Minister of Business and Superior Expertise and ADNOC Managing Director and Group CEO, known as on the power trade to comply with the UAE’s lead in driving pragmatic, partnership-based insurance policies that create jobs, strengthen economies and improve world competitiveness.
‘Pragmatic, not performative’
Dr Al Jaber stated the UAE’s pragmatic strategy demonstrates how coverage grounded in actuality builds investor confidence.
He stated: “Right here within the UAE, our strategy optimises power, attracts capital, advances expertise and works with trade on sensible coverage options.
“World capital continues to stream into the UAE as a result of traders worth credibility, respect predictability and put a premium on belief. All are present in Abu Dhabi and throughout the UAE.”
He added that insurance policies ought to be “pragmatic, not performative, primarily based on perception, not ideology, constructed on first ideas, not fleeting recognition. Regulation with out realism and laws with out logic will solely weaken economies, stunt societies and drive capital away.”
AI and effectivity at ADNOC
Citing ADNOC’s achievements, Dr Al Jaber stated: “At ADNOC, we’re utilizing each expertise accessible, together with AI and robotics to break down time and develop worth. By way of our home-grown firm AIQ, we have now embedded over 200 AI use circumstances, from the wellhead to the buying and selling flooring.
“These instruments are slicing unplanned shutdowns by half and enhancing efficiency throughout our enterprise.”
He added that ADNOC’s Power to the Energy of AI programme will make manufacturing forecasts 90 per cent extra correct, describing the corporate’s aim of changing into the “most AI-native power firm.”
‘Tune out the noise, monitor the sign’
Addressing market volatility, Dr Al Jaber stated: “With all of the static round, it may be troublesome to concentrate on what is basically materials to our enterprise. And at occasions like these, my strategy is straightforward: tune out the noise, monitor the sign.
“And the sign is telling us that near-term uncertainty is actual, whereas long-term demand stays sturdy. It’s telling us to stability price self-discipline with capital funding. Keep laser-focused on effectivity, whereas investing in folks, expertise and AI.”
He famous that whereas short-term headwinds could persist, long-term world power demand will proceed to rise.
$4tn annual funding wanted
Dr Al Jaber stated the world should make investments $4tn yearly in grids, knowledge centres and power programs to satisfy future wants.
“You’ll be able to’t run tomorrow’s economic system on yesterday’s grid,” he stated, highlighting that by 2040 electrical energy demand will surge as energy use by knowledge centres quadruples, 1.5bn folks transfer to cities, and greater than 2bn air conditioners come on-line.
Aviation demand will even double the worldwide fleet from 25,000 to 50,000 planes.
He added that renewables will greater than double, LNG will develop 50 per cent, jet gasoline over 30 per cent, and oil demand will keep above 100 million barrels per day past 2040—more and more used for supplies in addition to mobility.
“This all provides as much as one thing much more complicated than a single-path power transition. What we’re actually speaking about right here is power reinforcement, not alternative.”
Power and AI: twin engines of development
Dr Al Jaber stated the ENACT Majlis, held on the eve of ADIPEC, introduced collectively leaders from power, expertise, finance and coverage to debate learn how to “ignite the dual engines of power and AI.”
He defined that fuel at the moment offers greater than 1 / 4 of the baseload energy for knowledge centres, and a scarcity of fuel generators is making a provide constraint that’s pushing electrical energy costs increased.
“Infrastructure continues to be approach behind the place it must be. We’d like at the very least six million kilometres of recent transmission traces by 2050.
“The actual fact is that capital is offered; we’d like the precise constructions in place to de-risk and guarantee it flows to the precise locations. Most significantly, coverage should allow progress, not impede development.”
UAE as funding hub
Dr Al Jaber emphasised the UAE’s sturdy funding setting: “When effectivity counts, that is the place the place the lowest-cost and lowest-carbon barrels stay. When capital seeks certainty, right here is the place you can see the most effective bang in your buck.
“When good governance and rule of legislation are essential, right here is the place partnerships are rock stable and ROI is secured.”
He stated ADNOC, by its worldwide funding arm XRG, has accomplished fuel offers in Mozambique, Egypt, Turkmenistan, Azerbaijan and the US, whereas increasing throughout 5 continents in chemical substances and investing in smart-energy infrastructure to open new corridors for development.
“We’re open for enterprise—however greater than that, we’re open for boldness.”
