More than 15,000 global energy industry professionals, including senior decision-makers and energy industry thought leaders, will discuss the role of gas, LNG, and hydrogen in meeting future demand for energy at the Gastech 2021 Exhibition and Conference which opened today (September 21) in Dubai.
A leading event supporting the gas, LNG, hydrogen, and energy industry, Gastech will see ministers from world’s leading energy economies and business leaders taking part along with 250 exhibiting companies.
It was inaugurated by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.
Delivering the opening address, Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Adnoc CEO, said natural gas will support the nation’s vision for economic growth as set out by the Leadership in the ‘Principles of the Fifty’.
"The ‘Principles of the Fifty’ is a mandate for progress driven by 10 guiding principles aimed at making the UAE the most dynamic economy in the world. Gas will play a pivotal role in this blueprint for growth, as the essential fuel stock for our downstream hub in Ruwais and our industrial joint venture,TA’ZIZ,," he stated.
He pointed out that the UAE was strengthening its position as a regional leader in natural gas and the emerging blue Hydrogen market.
"We were the first in the region to stop flaring and find economic uses for gas, the first to build a liquefied natural gas (LNG) plant, the first to produce ultrasour gas at an industrial scale, and the first to store carbon dioxide (CO2) and use it in enhanced oil recovery (EOR) to liberate more gas," said Al Jaber.
The UAE is on track to achieve gas self-sufficiency as Adnoc leverages advanced technologies to expand into unconventional gas, tap into gas caps and unlock new reservoirs, as part of the company’s integrated gas strategy launched in 2018.
Al Jaber pointed out that as the world consolidated its recovery from the pandemic, LNG and broader gas markets globally were tightening, with demand outpacing supply.
"Longer-term, the outlook is also robust, driven particularly by markets in Asia," he said.
"Today, gas provides almost one-quarter of the world’s energy supply and will continue to play a critical role in the global energy system. No other fuel source can reliably supply the baseload power to heat and cool homes, drive heavy industry and expand economies, all while keeping emissions at a minimum," stated the minister.
Concluding his remarks, Al Jaber extended an open invitation for partnership in the UAE’s gas industry, noting that building strong partnerships across the world is one of the key principles for the UAE’s economic vision.
Marking the start of three days of high-level industry discussions that will shape policies and strategies to support sustainable, long-term growth for the gas, LNG, hydrogen, and energy industry, Gastech 2021’s official opening ceremony also featured two ministerial panels in which ministers from the world’s leading energy economies shared insights on the role of natural gas in the energy transition, future directions on how to create a hydrogen economy and what roadmaps are needed to meet the growing demand for energy and cleaner fuels.
Those taking part in the first panel session included Suhail Mohamed Al Mazrouei, UAE Minister of Energy and Infrastructure; Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of Qatar Petroleum; Dr Alparslan Bayraktar, Turkey’s Deputy Minister of Energy and Natural Resources, Arifin Tasrif, Minister of Energy and Mineral Resources, Indonesia and Mohammad Barkindo Sanusi, Secretary-General, Opec.
The second panel discussion focused on policies to support the rapid expansion of the hydrogen supply chain.
Those who were part of this panel were Chief Timipre Sylva, Minister of State for Petroleum Resources, Nigeria; João Galamba, State Secretary for Energy, Portugal; Udaya Gammanpila, Minister of Energy, Sri Lanka; Parviz Shahbazov, Minister of Energy, Azerbaijan and Tawfiq e-Elahi Chowdhuri, Energy Minister of Bangladesh.
Addressing the gathering, Al Mazrouei said: "Gas is a critical commodity used in houses as well as a key contributor to the economy and the industrial sector. Investors should create the right balance between focusing on sustainability in their production by adding no pressure on the pace of the development of countries."
"The UAE is supporting the transition to the Net-Zero energy as we are reducing the carbon footprint and reducing fossil by 50% in 2050," he added.
In his address, Sanusi commended the UAE for hosting a global platform that gathers key industry players to discuss the challenges and opportunities in the energy sector.
"The world will continue to consume energy, as by 2045 the demand on oil is expected to grow by 28% and on gas by 26%. The world needs continuous, predictable, and adequate investments in energy, particularly in oil and gas, which is irreplaceable because of the scale of its contribution to the global energy mix," he stated.
"The global economy is expected to double by 2045 and the population will increase by 20%. This will require the investment community to invest in supporting the energy sector as there is no other resources available to cover more than 50% of what the market needs," he added.
Taking place over three days, the Gastech Strategic Conference will bring together over 300 government ministers, energy industry leaders, policymakers, and key customers to map out a future low-emission landscape.
Key topics to be discussed include decarbonisation and emissions management; financing and project investment; adapting business models in a post-Covid world; integrated energy suppliers; gas and LNG supply and demand dynamics; the potential for hydrogen to play a key role during the energy transition; diversification of the future workforce; trading, contracting and pricing.
Simultaneously, the Gastech Technical Conference features five learning streams – Hydrogen; Marine; EPC and Project; Processing and AI and Technology. The programme will provide multiple opportunities for working professionals to learn from over 300 of the world's leading energy engineers as they present the latest technological breakthroughs and market opportunities for the industry.
Gastech 2021, co-hosted by Adnoc, Shell, and Venture Global LNG, is taking place along with the SPE Annual Technical Conference and Exhibition (ATCE)