UAE: Serious steps in the energy sector towards a “green recovery” and sustainable solutions for a low-carbon futur

Middle East Energy Information Center – August 11, 2021 Amid hopes of an end to the Corona pandemic, the energy sector in the UAE is taking serious steps towards the global trends of a green recovery that adopts sustainable solutions for a low-carbon future. His Excellency Suhail Al Mazrouei, Minister of Energy and Infrastructure, says that the global energy sector is rapidly moving towards a low-carbon future, by reducing emissions that lead to increased global warming, while ensuring continuous and growing social and economic well-being for all of the world’s population. His added, “In light of expectations that indicate an increase in global demand for energy during the next three decades, and the inability of alternative energy sources to meet this demand, hope is pinned on the growth of hydrocarbon supplies, especially those characterized by low intensity of carbon emissions.” On the future growth of energy demand in the coming years, Musabbah Al Kaabi, CEO of the investment sector at Mubadala Investment Company, said that global energy demand has been increasing steadily since the 1960s, thanks to the growth of economies and the rise in the standard of living. However, the emergence of the Corona pandemic has led to a clear reduction in demand during 2020. In its forecasts for global energy growth, the International Energy Agency estimates that demand could return to pre-pandemic levels if vaccines succeed in controlling the virus, with reservations about the possibility of energy demand levels returning to rapid growth in the next two decades, especially the demand for hydrocarbon fuels, which will be exposed to pressures due to the continuous global trends to reduce its use, and the demand for fuel from renewable sources will be the best chance and the fastest growing. Mohammed Jamil Al Ramahi, CEO of Abu Dhabi Future Energy Company, said: “Despite its abundant oil and gas wealth, the UAE has set an ambitious target to reduce its carbon emissions by 23.5% by 2030, in addition to its previous commitment to generate 50% of its energy needs from clean energy sourcesby 2050”.