Doha Hosts 12th Arab Energy Conference
Capitalizing on clean technologies to control hydrocarbon emissions further helps the world reach the Net Zero Emissions by 2050 scenario (NZE scenario), the closing statement of the two-day Doha-based 12th Arab Energy Conference said.
Themed “Energy and Arab Cooperation”, the event stressed the role of hydrocarbons in reaching a balanced, gradual and responsible energy transition, taking into account individual countries’ national circumstances and priorities.
The closing statement recommended the need for all Arab countries to adopt balanced development policies, including integrating the environmental dimension into development plans, balanced use of resources, diversification of the economy, and setting appropriate environmental standards to fully achieve sustainable development.
It added that Arab countries should capitalize on modern technologies to consolidate the basic concepts of sustainable development in the petroleum industry, conserve and rationalize energy consumption, produce cleaner fuels, reduce emissions, and improve the performance of all stages of the oil industry.
It is highly important to develop the national energy companies’ roles, create a mechanism for cooperation and coordination among them in the technical, artistic and economic fields, benefit from modern technologies, and exchange experiences in a bid to maintain production levels and provide additional production capacities to preserve fossil fuels as the main source of energy for decades to come, the statement added.
The statement called for following up on technical and economic developments in renewable energy sources, working to increase their share in the energy consumed, and enhancing energy efficiency.
With oil and gas expected to remain the two main global energy pillars for many decades, the statement underscored the importance of averting future energy crises by increasing oil and gas industry investments, in line with propping up renewable energy investments to guarantee sustainable energy security. It also highlighted the growing dependency on nuclear energy in many national strategies for energy transitions, as an effective clean energy technology for mitigating greenhouse gases.
The statement also recommended the modernization of existing refineries and/or the establishment of new ones and elevating the capacity of conversion operations to gradually produce clean and eco-friendly petroleum derivatives, meet the local market’s needs and export to the global market.
With the Arab countries’ capacities to build a competitive hydrogen economy and play an influential future role in international trade, the statement called for setting up appropriate conditions to expand hydrogen production and use to produce a low-carbon energy future.
Commenting on Arab petrochemical companies’ future roles, the closing statement urged further cooperation for modern technology transfer, support scientific research efforts to confront Arab oil industry challenges and boost its competitiveness in global markets. It also called for developing multi-sector strategies and executive programs to rationalize and improve energy efficiency.
It highlighted the importance of supporting strategic partnerships between governments and the private sector in the Arab world as a major catalyst for development and circular carbon economy through addressing gas flaring, overcoming obstacles to the electricity sector development, and amplifying benefits from existing electrical interconnection projects.
Focusing on the Fourth Industrial Revolution technologies in the oil and gas sector, the closing statement called for harnessing artificial intelligence to up operational efficiency and competitiveness, enhance and integrate sustainable energy sources into the energy system, elevate the scientific research role and follow up on and benefit from global technological developments.
The 13th Arab Energy Conference