Today's Edition
SAYED AL HAJJAR (ABU DHABI)
Experts and officials at the Atlantic Council’s Global Energy Centre confirmed that the UAE’s peaceful nuclear energy programme offers an example for other countries to follow, highlighting the country’s status as a role model in emissions reductions and the nation’s commitment to spreading clean energy solutions globally.
In an interview with Aletihad, the experts noted that as the UAE continues to develop carbon dioxide capture and storage industries, as well as green hydrogen, it can share best practices with other countries that adopt such technologies.
As part of the activities of the 28th UN Climate Conference (COP28), the Atlantic Council’s Eighth Global Energy Forum discussed key topics to address climate and energy security goals, including decarbonisation of oil and gas, clean energy in emerging markets, basic technologies for decarbonisation, and the geopolitical and economic implications of a changing energy system.
Reducing Emissions
The UAE is a role model for the rest of the world in reducing methane emissions in the oil and gas sector, William Tobin, Assistant Director of the Global Energy Centre of the Atlantic Council told Aletihad.
‘’As the world shifts towards clean energy systems, reducing intensive emissions in the oil and gas sector are crucial,” Tobin said. He also highlighted the need to unify efforts in exchanging best practices, adopting the best technologies, and transparency regarding emissions. “ADNOC is making great strides in these areas,’’ he added.
Sustainable Financing
Tobin stressed that the UAE has the resources that can be used to spread clean energy technology around the world, as “the UAE is a major investor in the sector, and can use its capabilities to launch initiatives to provide financing to support the energy transformation, especially in emerging markets’’.
Green Hydrogen
Tobin explained that the UAE has the technical knowledge and human capabilities necessary to implement methane reduction solutions in the oil and gas sector. As the UAE continues to develop the carbon dioxide capture and storage industries along with green hydrogen, it can share global best practices with other countries, he added.
Emerging Markets
"Emerging markets will be the primary drivers of the growth in energy demand through 2050, as they will represent more than 70% of energy demand,” Tobin said. He noted that there is an urgent need to ensure the ability of emerging markets to continue development, so that their citizens become more prosperous economically.
In order to ensure emerging market growth and achieve the net-zero emissions goal at the same time, the international private sector must become more involved in financing the energy transition in these countries, Tobin said, noting that ultimately, there is a need to reduce the cost of capital for investment in emerging markets. “We hope that COP28 will achieve tangible results in this area,” he added.
According to Tobin, the most prominent emerging clean energy technologies are solar photovoltaic energy generation and electric vehicles. These two technologies received nearly half a trillion dollars in investments in 2022, and enjoy widespread adoption in the market, he added.
However, carbon capture and use technologies, as well as green hydrogen technologies, are growing at even faster rates. “In fact, investments in carbon capture and storage technologies and clean hydrogen technologies have tripled in 2022 compared to the previous year,’’ Tobin said.
Nuclear Energy
Jennifer Gordon, Director of the Nuclear Energy Policy Initiative at the Atlantic Council’s Global Energy Centre, stressed the importance of the UAE’s recent announcement that operations would commence at the Barakah nuclear power plant’s fourth reactor. She explained that the UAE has proven that any country can build a peaceful nuclear energy sector, including regulators, engineers, and other necessary human resources, without having any previous experience in nuclear energy. The UAE’s peaceful nuclear programme can provide lessons for other countries in spreading nuclear energy programmes, she said.
Increasing Demand
‘’The demand for nuclear energy, whether from large light water reactors or small modular reactors, small reactors, and nuclear batteries, is constantly increasing, due to applications inside and outside the electrical power grid and the ability to provide clean and reliable energy,’’ Gordon said. She stressed the importance of the current session of the World Energy Forum in enhancing cooperation, dialogue, and discussing the future of the global energy sector, explaining that the Atlantic Council chose to host the annual World Energy Forum at COP28 this year to benefit from the amazing experiences and knowledge of the conference participants.
‘’The UAE is a role model for the rest of the world in reducing emissions, as well as in promoting cooperation, dialogue, and discussing the future of the global energy sector,’’ Gordon said.
