Oil and gas industry plays central role in addressing climate change, says OPEC Secretary-General

VIENNA - Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), highlighted the importance of promoting dialogue in the global energy scene, with the participation of both developed and developing nations, as well as all stakeholders.

The objective is to develop a shared vision that addresses the triple challenges of energy sustainability while considering all energy sources and technologies, respecting the interests of all nations, listening to all opinions, and relying on multiple pathways to reduce global carbon emissions, he added.

In a statement to the Emirates News Agency (WAM) ahead of the upcoming 8th OPEC International Seminar in Vienna, Al Ghais said that the challenges of energy sustainability include goals related to energy security, cost affordability and the imperative to reduce emissions.

OPEC believes in the necessity of directing investments towards emission reduction technologies, such as carbon capture, utilisation and storage, the circular carbon economy, reducing methane emissions and flaring, direct air capture, hydrogen production and integrating renewable energy sources in oil and gas operations, along with the use of smart technologies to enhance the energy efficiency, he added.

Al Ghais noted that the average global production of oil and natural gas reached 100 million barrels per day and 4,000 billion cubic metres of natural gas in 2022, while OPEC's projections indicate that by 2045, the global economy will double. The population will increase, so the demand for all energy sources, including oil and natural gas, will rise by approximately 23 percent.

Regarding the UAE’s role in supporting OPEC's efforts, Al Ghais lauded the UAE’s support for the organisation, stating that since joining OPEC, the country has played a leading role in all its affairs. This leadership has been evident through the UAE's contributions to the Declaration of Cooperation (DoC) with OPEC+, he added.



Source: https://www.zawya.com/en/business/energy/oil-and-gas-industry-plays-central-role-in-addressing-climate-change-says-opec-secretary-general-iqwzongj


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