Two-day Energy Conference Starts in ECSSR
- 18 November 2014
Under the patronage of His Highness General Sheikh Mohammad bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and President of the ECSSR, the Emirates Center for Strategic Studies and Research convened a two-day conference entitled “Future Energy Trends: Innovation, Markets and Geopolitics”.
The first day of the conference saw participants discuss ideas for meeting long-term energy needs, ways to shape and sustain the future of energy and mitigate its environmental impacts. Participants further discussed the growing role of unconventional oil and gas, with particular reference to the recent boom in US production, as well as the latest trends in renewable technologies and their potential applications in the cities of the future.
In his welcoming remarks Dr. Jamal Sanad Al Suwaidi, the Director General of the ECSSR, praised the UAE’s responsible role in maintaining the stability of the global energy market, and its strategic position as a global hub of innovation in the field of energy. He also commended the UAE’s leading role in developing initiatives to diversify global energy supply. The three aspects of the energy world- innovation, markets and geopolitics he added, are witnessing major changes that have a direct bearing on global economic stability.
H.E Eng, Suhail Mohammed Al Mazrouei, Minister of Energy, UAE, in his keynote address, talked about the role of energy resources and their impact on the economies of the countries worldwide. Oil and gas, he said, will remain one of the biggest sources of energy until 2040; emphasizing the UAE should have a clear vision to manage the consumption of these resources.
He added, governments across the globe are investing in unconventional oil sources due to the increasing scarcity of conventional oil reserves. Natural gas, he cautioned, cannot be the only source for the production of electricity and added the UAE has built nuclear power plants to produce electricity and by 2020 nuclear energy will contribute 25% towards the production of electricity. The UAE needs to formulate a more effective way to manage the consumption of its energy resources; this, he proposed can be done by increasing awareness, education, and by developing laws and strategies for future.