The UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), Dr Sultan Ahmed Al Jaber, has identified natural gas as a critical element in driving economic growth in the UAE over the next 50 years.
Dr Al Jaber, who virtually delivered the opening presentation at Gastech 2021, emphasised the UAE’s natural gas leadership and stated that natural gas will support the nation’s strategy for economic growth as outlined by the Leadership in the “Principles of the Fifty.”
He noted that his country was the first in the region to end flaring and discover profitable applications for gas, to establish a liquefied natural gas (LNG) plant, to generate ultra-sour gas on a large scale, and to store carbon dioxide (CO2) and use it in enhanced oil recovery (EOR) to liberate more gas.
As part of ADNOC’s integrated gas strategy which was introduced in 2018, he said the UAE is on course to attain gas self-sufficiency as the business uses sophisticated technologies to grow into unconventional gas, tap into gas caps, and unlock new reservoirs.
Excerpts from his address:
“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.”
“Our Founding Father Sheikh Zayed’s commitment to the environment and truly sustainable development was the key driver. In 1973, at his direction, ADNOC stopped burning the associated gas from all its operations, and instead captured it and shipped it.”
“In short, turned an environmental liability into a commercial opportunity. From that moment, when it came to gas, we never looked back. For almost fifty years the UAE has viewed gas in all its forms as one big opportunity, and we’ve built our gas business on a number of firsts.”
“Construction of artificial islands is underway and we are leveraging our experience in world-class developments to ensure costs are minimized and commercial benefits maximized for all our partners. Together, these projects will deliver over 3 billion standard cubic feet of gas per day, enough to power several million homes.”
“As the world consolidates its recovery from the Covid-19 pandemic, LNG and broader gas markets globally are tightening, with demand outpacing supply. Longer-term, the outlook is also robust, driven particularly by markets in Asia. 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.”
“This has always been at the center of our approach to growth and it will remain the key to the future.”
“At the heart of this goal, is the expansion of our producing assets, like Shah and the development of new ones, like the unique Umm Shaif gas cap and the Hail, Ghasha and Dalma project.”
“Already at ADNOC, we produce about 300,000 tons of hydrogen a year. By leveraging our existing gas infrastructure and commercial-scale CCUS capabilities, the UAE can and will become a major player in the emerging blue hydrogen market.”
In his closing remark, Dr Al Jaber offered an open invitation for participation in the UAE’s gas business, saying that one of the UAE’s economic vision’s fundamental elements is to develop strong alliances throughout the world.
Gastech is the world’s leading event for gas, LNG, hydrogen, and energy. The 2021 edition will be held in Dubai from September 21 to 23, under the auspices of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.
