The fourth annual session of the "World Energy Forum" organized by the "Atlantic Council", with the participation of 700 officials representing 75 countries, began in Abu Dhabi yesterday to set the global energy agenda for 2020 within the Abu Dhabi Sustainability Week. The Abu Dhabi National Oil Company (ADNOC) stressed that the production capacity of crude oil in the UAE will increase to four million barrels of oil per day at the end of 2020, at a time when it is close to achieving its goal of achieving self-sufficiency in gas, and become a net source of gas.

Production capacity

The Minister of State and CEO of Abu Dhabi National Oil Company "ADNOC" and its group of companies, Dr. Sultan Ahmed Al Jaber, revealed that the production capacity of crude oil in the UAE will increase to four million barrels of oil per day at the end of this year, stressing that the country is close to achieving its goal of reaching sufficiency Self-gas, and become a net source of gas in the future. In his speech at the opening of the fourth annual session of the "World Energy Forum" organized by the Atlantic Council, under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, Al-Jaber added that the UAE has doubled its capabilities in solar energy by 400%, and invested in internal renewable energy projects, and in 25 countries, with a total production capacity of approximately 12 gigawatts of clean energy.

He stressed that the UAE will be this year, the first country in the region to manage a nuclear energy production plant for commercial purposes in a safe and sound manner, and will continue to develop its hydrocarbon resources in a responsible manner, to ensure the provision of stable and reliable energy supplies to global markets.

He stated that the demand for short and long term energy is still very strong during the next two decades, as we will see growth ranging between 25 and 30% at least in energy demand, a rate that no single source can provide, pointing out that the main challenge is how to produce more Of energy while reducing emissions, which the UAE sees as a unique opportunity to support its energy leadership.

Decisive year

For his part, the Minister of Energy and Industry, Suhail Muhammad Al Mazrouei, considered that 2020 is a crucial year for the Emirates as it begins operating the first unit of its nuclear reactor, with the start of fuel loading, stressing the UAE's commitment to be the "safest" Barakah reactor in the world. He stressed that the UAE is committed to working with everyone to ensure energy security, and that it is guaranteed to all, and to pump more investments by the companies involved in the markets, pointing to a commitment by the Organization of Petroleum Exporting Countries (OPEC) not to raise prices, and provide a balance between supply and demand, Ensuring the world is well supplied with energy supplies and stimulating investment in this sector.

A typical project

In the same context, the CEO of the Emirates Nuclear Energy Corporation, Mohamed Ibrahim Al Hammadi, said that when fully operating the four "Baraka" stations, it will produce up to 25% of the UAE's electricity needs, and will reduce 21 million tons of carbon emissions every year. At a time when the project contributes to providing rewarding jobs and developing a new industrial sector.

He stressed that the project constitutes a model to be followed by countries seeking to develop new programs for peaceful nuclear energy and diversify their energy sources.

Al Hammadi pointed out that the peaceful nuclear energy sector in the UAE and the Barakah peaceful nuclear energy plants project contribute to supporting growth and prosperity in the country by producing 5,600 megawatts of environmentally friendly electricity, as well as providing job opportunities and scholarships for citizens of the country for decades to come.

He continued: «Once the operating license is obtained for the first unit of the Federal Nuclear Supervision Authority, the process of providing safe, clean and reliable electricity will start around the clock.

Baraka: A global achievement by all standards

The Executive Director of the International Energy Agency, Fateh Birol, considered the UAE nuclear project a great and global achievement by all standards.

For his part, Randolph Bell, director of the Global Energy Center at the Atlantic Council, said that the forum provides the opportunity for decision-makers from all over the world to take effective steps to contain crises in the region that greatly affect the energy markets.

As for the President of the Atlantic Council, Frederick Kemp, he emphasized that "Abu Dhabi Sustainability Week" is the largest gathering of energy and sustainability in the world, with more than 700 delegates representing 75 countries participating, stressing the commitment of the Council to support investment in clean and renewable energy and reduce carbon emissions from fuel. Fossil to strengthen the energy sector.

UAE doubles solar capacity by 400%