ABU DHABI: Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said that selecting Egypt and the UAE to host COP27 and COP28, shows the world’s appreciation for the efforts of climate change and net-zero emissions in the Arab region, specifically oil-producing countries, and the Middle East, WAM reported.

He affirmed the UAE is a critical player in the global climate efforts and a global centre to support the green economy and environmental conversation.

“Egypt and [the] UAE are hosting COP27 and COP28 tells you about the commitment of the oil-producing nations and the Middle East, as well as shows that we are the first come to the table with a plan and also to comment to net-zero through initiatives, legislation, and ambition projects to create a balance between the production of energy, economic growth and preserving the environment,” Al Mazrouei said in his speech at the opening ceremony of Abu Dhabi International Petroleum Exhibition Conference “ADIPEC 2021”.

He said the UAE has plans and initiatives for national climate change to achieve zero emissions by 2050, making the country the first in the Middle East and North African nation to do so.

“[The] UAE is an oil-producing country and it has major concerns about clean energy. We put early initiatives and ambition plans to move for a new era aimed at having various energy resources and preserving the environment. We will not only lead but follow our commitment and will show the world that we can pave the road for practical and sustainable economic growth and cautions about the environment,” Al Mazrouei added.

He stressed the UAE worked especially on improving the productivity of oil, gas, and petrochemical, as well as, reducing the carbon footprints by adopting Artificial Intelligence and sustainable technologies such as carbon capturing and using it to boost petroleum production.

The UAE is working to be one of the main suppliers of future energies such as renewable, nuclear, hydrocarbon and hydrogen, he said.

Moreover, Al Mazrouei said that the energy resources this year witnessed massive demand, especially the fossil fuels due to the return to normalcy and improvement in the global economy post-Covid-19 pandemic.

He affirmed that all indications point to an oil supply surplus in the first quarter of 2022 and Opec+ and its allies would stick with the plans to raise oil output by 400,000 barrels/day.

“2022 will be a year of balance between supply and demand. [The] UAE will invest in the energy sector for stable global markets. It is important to have a balance between supply and demand in the oil and gas markets by having cooperation between the countries to achieve a reasonable pace of growth,” he said during a ministerial panel titled “The new world of energy” at ADIPEC 2021.

He calls for reducing the energy consumption to avoid depletion of energy resources, adding that the future technologies will play a key role to help resolve the problem.

The UAE is working towards achieving the nation’s energy strategy 2050, reducing the carbon footprint by 70 per cent.