The global energy event, Middle East Energy concluded with the Global Energy and Utilities Conference which focused on decarbonizing energy-intensive industries.
The Decarbonizing Industries session addressed the critical need for decarbonizing energy-intensive industries to successfully achieve carbon reduction projects and net-zero goals. The UAE alone is expected to require a new investment of $164 billion in clean energy sources to achieve the carbon-neutral 2050 pledge.
In a discussion on Saudi Arabia’s Net-Zero Target announced in October last year, Mr. Turki Al Shehri, Chief Executive Officer, ENGIE KSA reiterated his confidence in achieving net-zero 2060 goals, when the country committed to cutting carbon emissions to zero by 2060.
Mr. Al Shehri stated that “I’m optimistic because if you look at the entire value in terms of public and private companies and regulations, they are all aligned towards the net-zero objective. I believe the objective is very achievable and could be achieved in advance with the way things are moving forward,”
In a discussion about the use and availability of opportunities and technologies for decarbonization, Mr. Salim Mousallam, Executive Director – Decarbonization Strategy & Partnerships, GE Gas Power EMEA, stated that “Today, 40 percent of CO2 emissions from around the world come from power generation so we cannot ignore that we have to do something. For power plants, there are multiple solutions to decarbonize and achieve net-zero.
“At GE, we’ve been burning hydrogen for about 30 years, so the technology is there; however, the only issue is when you look at the energy trilemma, you need sustainability, reliability, and affordability, so until you have the right economy and the infrastructure to support hydrogen, which can take years, we have to look at both pre and post-combustion. Carbon capture is critical as it is something we can do today,” Mr. Mousallam added.
Other speakers on the panel included;
- Mr. Alexandre Eykerman, Managing Director and Energy Business Director, Wartsila
- Dr. Chet Biliyok, Technical Director – New Energy Services, Petrofac
- Mr. Ali Zerouali, Head of Cooperation & International Development, Masen and
- Mr. Sergio Lopez Perez, International Relations Senior Specialist, Department of Energy, Abu Dhabi.
At the Intersolar Conference, energy storage and rapid development of technology took a prominent place in the inaugural session. The discussion was about how the market changes and adapts as power generation, distribution and storage technologies open up new possibilities.
On this occasion, the Municipality of Ras Al Khaimah unveiled the first RAK Energy Summit to be held under the patronage of HH Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah.
In line with the Rak Energy Efficiency and Renewables Strategy 2040, which aims at 30 percent power savings, 20 percent water savings, and 20 percent renewable energy by 2040, the summit will bring together international and regional experts and leaders from the government and private sector to discuss emerging trends and initiatives in the sustainable energy sector.