Oil sector industrialists participated this week in an energy conference organized in the United Arab Emirates, host country of the next COP28. Between commitment and announcements of decarbonization projects, it was an opportunity for Sultan al-Jaber, controversial president of the next COP, to present himself as an actor in the energy transition.
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It must certainly be an important gas extraction site, but it will be, according to its promoters, “ the first in the world » to have an objective of “ net zero emissions “. This Thursday, October 5, on the last day of the Adipec conference, the Abu Dhabi oil group ADNOC announced the award of contracts to launch the construction of a gas project. These are estimated at 17 billion dollars. A type of project that Sultan al-Jaber, the president of ADNOC and the next COP, calls for a mix between growth and climate issues.
For Sultan al-Jaber, next month’s climate conference should be an opportunity for the oil industry to establish itself as an environmental player. “ For too long, this sector has been seen as part of the problem, not doing enough and in some cases even blocking progress. This is your opportunity to show the world that you are, in fact, at the heart of the solution. In fact, this sector can change the course of events on a global scale “, said the UAE businessman.
If he judges “ inevitable and essential » to get away from fossil fuels, Sultan al Jaber calls for a “ fair, rapid transition […] and responsible “. But, he points out, the world economy consumes the equivalent of 250 million barrels of oil, gas and coal daily, which it cannot do without overnight. And this gas extraction project underlines it: the Emirates will continue to exploit fossil fuels in the long term.
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