Fri 12-01-2018 17:16 PM
by Nour Salman
ABU DHABI, 12th January, 2018 (WAM) -- Ahead of the Abu Dhabi Sustainability Week, the Atlantic Council held its second-annual Global Energy Forum in the capital today. The two-day premier event gathers international and regional industry leaders in Abu Dhabi to address the geopolitical, energy and sustainability challenges and opportunities of the future.
The Forum is hosted under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. It is convened in partnership with the Ministry of Energy of the United Arab Emirates, Abu Dhabi National Oil Company (ADNOC), and Mubadala Investment Company.
Commenting on why the forum is held in the UAE capital, in his opening remarks, Frederick Kempe, President of the Atlantic Council said, "Abu Dhabi has established itself as the major energy capital in the world. I'm not sure there's another place in the world that's cutting edge in fossil fuel production, and renewable energies."
During the opening ceremony, Gen. James L. Jones, Jr. USMC (Ret.), Interim Chairman of the Atlantic Council, said that energy leaders must be prepared to respond to a rapidly changing geopolitical environment. Changes in policy, technology, markets, and consumer behaviour are shifting the global energy mix, with profound consequences for producing and consuming countries, the purveyors of new technology, and the relationship between them.
Highlighting the need for dialogue to impact geopolitical transitions in the energy sector, Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and Chief Executive Officer, Abu Dhabi National Oil Company, said, "In just two years this forum has served to identify critical trends and gather key stakeholders, establishing itself as an important meeting place for global energy dialogue."
He added that as the UAE diversifies the energy mix, hydrocarbons will continue to play a vital role in meeting with the global energy demand.
"At ADNOC," Dr. Al Jaber continued, "we have begun a holistic transformation pivoting towards smart growth. We will continue to diversify our partnership base and adapt to new realities.
"And while market dynamics may shift, our basic mission has not changed - ensuring security of supplies will remain our main priority."
Addressing the Global Energy Forum, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, said, "In line with the UAE Energy Plan 2050, the Atlantic Council Global Energy Forum provides a platform for regional and global industry leaders and policy makers to jointly set the energy agenda for 2018.
"As the demand for energy increases, it is vital to ensure the sustainability of energy resources for strong economic growth and a healthy environment for the future. The combined vision established at the Global Energy Forum will provide a lasting positive contribution to our collective energy future."
On the first day of the event, global and regional decision makers will set the 2018 energy policy agenda and policy framework, addressing the role of policymakers in the energy transition and the need for new financial frameworks for the new era of energy.