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Abu Dhabi 08-09-2019
Suhail bin Mohammed Faraj Fares Al Mazrouei, Minister of Energy and Industry, confirmed the UAE’s continued commitment to the agreement of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries in order to achieve balance and stability of the global oil market.
The Minister of Energy and Industry, in statements on the sidelines of the opening press conference of the twenty-fourth World Energy Conference, expressed confidence that OPEC + will continue its commitment to production levels that achieve market balance.
He stressed the UAE’s commitment to support measures that help to stabilize and balance the global oil market as the proportion of the UAE’s commitment to the “OPEC” agreement more than 100%.
He said that OPEC’s decisions are based on analyzing and reviewing the situation of the global oil market and making the necessary recommendations that contribute to maintaining its balance and stability.
Al Mazrouei said: “There are concerns in the global oil market outside the supply and demand due to the geopolitical effects and tensions between the major economies in the world that would affect the oil market.”
He expressed the UAE’s pride in hosting this historic and historic event that reflects the ambitious and dynamic transition of energy in the UAE at the moment and completes the wise vision of the UAE leadership in this field, pointing out that the UAE is leading the process of energy transfer through two of the largest solar energy projects. In the world and a civilian nuclear program to produce energy.
“Through the implementation of the UAE Energy Strategy 2050, which reflects the vision of wise leadership for sustainable growth and diversification of energy sources, we are looking to generate more clean, zero-carbon energy sources to account for 50 per cent of the total national energy production,” he added. During the implementation of the long-term plan is the first of its kind in the region, in addition to our continued investment in the development of innovative initiatives focused on energy efficiency. “The conference under the slogan” Energy for Prosperity “reflects the UAE’s ambition to leave a global milestone to contribute to the process of energy development,” he said.
“We are proud to host the 24th World Energy Congress, which will mark a milestone in the history of this event, and we welcome guests and experts from around the world to Abu Dhabi. We all face the same challenge to achieve a sustainable and innovative energy future that ensures social, commercial and community prosperity.
“The 24th World Energy Conference is contributing to the creation of a more prosperous energy industry, built on innovation to develop a low-carbon economy based on clean energy generation,” he said.
The press conference was held today at the Abu Dhabi National Exhibition Center (ADNEC) by HE Eng.
Yong Hoon David Kim, chairman of the World Energy Council (WEC), said the WEC is continuously engaging opinion leaders and decision makers in all sectors from around the world to meet the challenges of developing an innovative energy system that is inclusive and working together to shape the future of energy.
“We bring together the world’s energy leaders to be part of the 24th World Energy Conference to find solutions to the challenges of energy transition that will enable entire communities to benefit from them, as well as to renew life support systems and protect the Earth’s natural environment.”
The 24th World Energy Conference, which will kick off tomorrow and last until September 12, will be attended by a wide range of partners and official sponsors of the event along with a large number of leading companies globally with the hosting of the most diverse gathering ever ministers, governments, companies, intergovernmental organizations, NGOs and academics in Abu Dhabi”.
