Energy has to be available, affordable, secure, and sustainable

Energy has to be available, affordable, secure, and sustainable

10 june 2024 0000




ADNOC is an international progressive energy company. We are in a business of what we call “energy for life”. By 2050, there will be nearly 10 bln people on the planet. Currently, 800 mln of those don’t have any access to energy at all. So, what we are trying to do is decarbonize the energy systems of today while building the low-carbon energy systems of tomorrow for the growing demand. And we are doing that through a number of different pillars. One, and it’s what our exposition stand is mostly about, is technology, primarily, AI. In his speech at the opening ceremony of this exhibition, our group CEO, Sultan Al Jaber talked about the interplay between the energy for AI and AI for energy. We have 30 proprietary AI tools that were built through a joint venture with G42 called AIQ and that helped us save half a billion USD over 2 years in terms of efficiency gains and safety. They have also helped abate 1 mln tons of CO2 from our operations.

The technology we are presenting is the AI initiatives that we have created as a forward-thinking global energy company. We need to be thinking about how to deliver the energy the world needs, but to do that in a just equitable and orderly way that we call an energy transition. But a transition cannot just happen the same way all at once. Different countries and different people have different needs, different levels of access to energy, different requirements, rates of growth or contraction. But if energy is going to be. The Paris Accords mean that we need to retain a level of 1.5 degrees Celsius by the end of the 21st century and in order to do that we need to use different tools available to decarbonize energy as it exists today as well as build up low-carbon alternatives, things like renewables, chemicals, LNG on which we heavily focus in Azerbaijan. We had a deal this country last year to acquire 30% of the Absheron field. We see a lot of potential in and enjoy working with Azerbaijan.

It's my first trip to Azerbaijan and it has been a very successful trip. We had two of our executives speak on the panels of the Baku Energy Forum yesterday. Musabbeh Al Kaabi who is the Executive Director of our Low Carbon Solutions & International Growth Directorate gave a talk on a panel with the President of SOCAR. He talked about the opportunities that we see in Azerbaijan and through AI. We have another panel also this afternoon.

Both the exhibition and conference are very well organized, we are happy with it, we have made some great connections, and we are excited to continue to do business in Azerbaijan. We have had many visitors to the stand – a lot of people are very interested in AI, it’s a top topic. They are interested in energy, in Abu Dhabi and our company. We are excited to meet the local industry and get a real feel for a country and a city that has ambitious growth plans. It’s been great to meet like-minded entrepreneurial people, too. I really hope we will be back to this event next year.

A spokesman for the ADNOC company

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