Rising Global Energy Demand Necessitates More investment: Emirati Minister

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, has highlighted the urgent need to increase investments in energy infrastructure to meet the rising global demand, driven by accelerating global changes and the anticipated growth in future oil consumption.

The minister added that the transition to a more sustainable energy future and making the oil & gas sector more environmentally friendly, while reducing emissions from its operations, is a top priority for the United Arab Emirates.

“The UAE recognises that reaching this goal requires investing in new technologies like carbon capture and storage."

The minister explained, during his speech at the 12th Energy Markets Forum, hosted by the Emirate of Fujairah, that ADNOC is a leader in reducing the carbon footprint of its operations.

“This effort supports the UAE’s goal to achieve net-zero emissions by 2050," he said, adding that in today's energy landscape, affordability is equally important as security.

He noted that OPEC+ is actively working to ensure a stable supply and demand equilibrium, thereby fostering investment.

“The UAE takes pride in establishing a model that can be replicated in other countries, starting with the development of the UAE Energy Strategy 2050, which aims to triple the capacity of renewable energy sources by 2030.”

He stressed the importance of the role played by the Emirate of Fujairah in ensuring the smooth flow of energy, as it has developed one of the world’s largest bunkering hubs.