OPEC Secretary-General: Oil and Gas Industry's Climate Change Role

Promoting Dialogue for Sustainable Energy: OPEC's Secretary-General Emphasizes Collaboration

He emphasized the importance of engaging both developed and developing nations, along with all stakeholders, to develop a collective vision. This vision aims to address the triple challenges of energy sustainability, considering all energy sources and technologies, respecting the interests of all nations, and embracing diverse pathways to reduce global carbon emissions.

OPEC's Focus on Energy Sustainability and Emission Reduction

In anticipation of the 8th OPEC International Seminar in Vienna, Al Ghais, in an interview with the Emirates News Agency (WAM), discussed the challenges of energy sustainability. These challenges encompass goals related to energy security, cost affordability, and the imperative to reduce emissions. OPEC firmly believes in directing investments toward emission reduction technologies such as carbon capture, utilization, and storage, the circular carbon economy, methane emission reduction, and flaring reduction. Additionally, OPEC recognizes the importance of integrating renewable energy sources into oil and gas operations, adopting smart technologies for enhanced energy efficiency, and exploring hydrogen production.

Global Energy Production and Increasing Demand

Al Ghais highlighted that global oil and natural gas production reached an average of 100 million barrels per day and 4,000 billion cubic meters of natural gas in 2022. OPEC's projections indicate that by 2045, the global economy will double, accompanied by an increase in population. Consequently, the demand for all energy sources, including oil and natural gas, is expected to rise by approximately 23 percent.

UAE's Support for OPEC's Endeavors

Al Ghais commended the United Arab Emirates (UAE) for its steadfast support of OPEC. Since joining the organization, the UAE has played a leading role in all OPEC affairs, including contributions to the Declaration of Cooperation (DoC) with OPEC+. Al Ghais highlighted the cooperation and dialogue between OPEC and the UAE, which resulted in the signing of an agreement between the organization and WAM, designating WAM as an official media partner for the 8th edition of the OPEC International Seminar.

Expectations for the OPEC International Seminar and COP28

The upcoming OPEC International Seminar, to be held in Vienna, will bring together 50 high-level speakers from energy-producing and consuming nations. Discussions will focus on the energy sector's developments, energy security, energy transition, and investment attraction. Al Ghais expressed hopes and aspirations for COP28, hosted by the UAE at the end of 2023. He emphasized that COP28 presents an opportunity to unify the world and implement practical and ambitious solutions to address climate change. The conference should prioritize action, implementation, inclusivity, and support for developing countries, considering national circumstances and priorities. Climate financing, knowledge sharing, and technology transfer will be essential for inspiring innovation and removing barriers to collective climate action.

OPEC's Commitment to Climate Change Mitigation

Al Ghais affirmed OPEC's long-standing commitment to environmental and climate change issues since the Stockholm Conference in 1972. OPEC and its member countries actively participate in the United Nations Framework Convention on Climate Change (UNFCCC) and prioritize negotiations, recognizing that developing countries are often the most affected by climate change. OPEC and its members will play a pivotal role in implementing fair and realistic solutions, leveraging the oil and gas industry's potential in addressing climate change through energy efficiency investments and technological innovations like carbon capture and storage.

Oil-Producing Countries' Transition to Renewable Energy

Highlighting the global energy sector's efforts to combat climate change, Al Ghais acknowledged that many oil-producing countries are embracing renewable and environmentally friendly energy sourcesTitle: Collaboration for Sustainable Energy: OPEC Secretary-General Emphasizes Global Dialogue , Promoting dialogue and collaboration is a key focus for Haitham Al Ghais, the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC). In preparation for the upcoming 8th OPEC International Seminar, Al Ghais emphasized the need for engagement from both developed and developing nations, as well as all stakeholders. By working together, a shared vision can be developed to address the triple challenges of energy sustainability, taking into account diverse energy sources, respecting national interests, and employing multiple pathways to reduce global carbon emissions.

Energy Sustainability and Emission Reduction: OPEC's Commitment

In an interview with the Emirates News Agency (WAM), Al Ghais highlighted the challenges associated with energy sustainability, including energy security, affordability, and emission reduction. OPEC firmly believes in investing in emission reduction technologies such as carbon capture, utilization, and storage (CCUS), circular carbon economy, methane emissions reduction, and integrating renewable energy sources in oil and gas operations. The use of smart technologies to enhance energy efficiency is also an important aspect of OPEC's approach.

Global Energy Production and Increasing Demand

Al Ghais pointed out that global oil and natural gas production reached an average of 100 million barrels per day and 4,000 billion cubic meters of natural gas in 2022. Looking ahead, OPEC projects that the global economy will double by 2045, leading to increased demand for all energy sources, including oil and natural gas, which is expected to rise by approximately 23 percent.

UAE's Support and Partnership with OPEC

Al Ghais commended the United Arab Emirates (UAE) for its unwavering support and leadership within OPEC. The UAE has played a significant role in OPEC's affairs since joining the organization, including active participation in the Declaration of Cooperation (DoC) with OPEC+. The cooperation and dialogue between OPEC and the UAE resulted in an agreement with the Emirates News Agency (WAM), designating WAM as the official media partner for the 8th edition of the OPEC International Seminar.

Expectations for the OPEC International Seminar and COP28

The upcoming OPEC International Seminar, to be held in Vienna, will bring together high-level speakers from energy-producing and consuming nations. The seminar will facilitate constructive discussions on the energy sector, developments, energy security, energy transition, and attracting investments. Al Ghais also expressed optimism for COP28, hosted by the UAE, seeing it as a crucial opportunity to unite the world and implement practical and ambitious solutions for addressing climate change. The conference is expected to prioritize action, inclusivity, and support for developing countries, with a focus on climate financing, knowledge sharing, and technology transfer.