Sultan Al-Jaber stated that the directives of the leadership in the Emirates are continually enhancing the state’s standing as a recognised and trustworthy energy supplier, and that “(Adeebk) is being held under complex conditions the world faces, as global supply chains are still fragile and the geopolitical landscape is more complicated than ever. Inflation is still on the rise, and interest rates increase the cost of borrowing and investment, which led to the gloomy economic outlook.
Despite the fact that many people are inquiring about the likelihood of an economic recession, he expressed his view that nobody can make any firm forecasts about the future in this regard.
In his speech, he pointed out that “energy is a top priority for everyone now,” and that “the global energy scene is going through this time with unprecedented turmoil.
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The fall in long-term investments in oil and gas has intensified the issues in the energy sector, he continued, adding that the world is now aware of this “Data and figures are obvious. as a result of the production capacity’s natural decline. This makes the shocks the energy sector experienced this year seem relatively little in comparison to what might occur if oil and gas investment were to cease.
If this year has taught us anything, it is that energy security is a crucial foundation of success in a variety of areas, including economic, social, and climate efforts.
Al-Jaber emphasised that the world requires “all solutions available to secure its energy needs, and we cannot choose between oil and gas, solar energy, wind energy, nuclear energy, or hydrogen, as we all require it, in addition to the clean energies that will be discovered and applied yet Ensuring its economic feasibility. The solution is to combine all sources, not to choose between them.
“Technology, he noted, “will be one of the most essential components for enabling the energy sector as we go into the future.”
Al-Jaber further noted that “With the UAE’s commitment to host the COP28 conference, we must concentrate our efforts and steer them in a fresh, audacious, and practical direction that is good for humanity, the environment, and the economy.
“”We need to cut emissions and not to stop growth and advancement rate,” Al-Jaber stated in closing his statement. The initiative initiates action. I make an open invitation to all our partners and friends to make this step together, and the initiative towards formulating the features of the future because our concerted efforts will lead us to success. “.
Adenk’s CEO: More energy is needed with less pollutants.
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