UAE’s Energy Strategy for 2050: Equal balance between natural gas and renewable energy
Each will provide approximately 40 per cent of the UAE's total energy needs
Nations that have already switched away from coal to gas have been able to show a considerable drop in emissions, reducing CO2 emissions by upwards of 15-20 per cent in the transition according to a statement by Majid Jafar, CEO of Crescent Petroleum and Managing Director of the Board of Dana Gas. Jafar will be speaking on the online panel, “Net Zero and the Future of Natural Gas” during the 5th Annual Atlantic Council Global Energy Forum, which is being held virtually between Jan 19-21. Mr Jafar will be joined on the panel by Fatima Al Nuaimi, CEO of ADNOC LNG, Shaikh Nawaf Saud Al Sabah, CEO of Kuwait Foreign Petroleum Exploration Company (KUFPEC), in addition to Charif Souki, Executive Chairman of the Board of Tellurian and Scott Strazik, Chief Executive Officer, GE Gas Power.
“As economies around the world look to emerge from the economic impact of the COVID-19 pandemic, cleaner burning natural gas will offer the multiple benefits of affordability, reliability and lower carbon footprint, while serving as a critical counterpart to intermittent renewable energy, while also enabling tomorrow’s hydrogen economy. Countries looking to boost infrastructural spending in the wake of the pandemic must consider a future energy strategy with natural gas as an important part of the mix, particularly in the developing world where coal is the main energy source but also the single biggest source of CO2 emissions, as well as particulates and nitrous oxides.”