· Maintains oil, natural gas will be relevant till 2045
By Teddy Nwanunobi
The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), HE Mohammad Sanusi Barkindo, on Tuesday, took part in the opening ceremony of the three-day Gastech 2021, holding in the World Trade Centre in Dubai, United Arab Emirates (UAE), as energy diplomats gather to discuss the role of the natural gas in energy transition.
Barkindo joined several energy ministers to brainstorm on the critical issue under the patronage of the UAE and Ruler of Dubai, Vice President and Prime Minister, HH Sheikh Mohammed bin Rashid Al Maktoum.
“Barkindo stressed the vital role of oil in meeting the growing demand for energy“
The session titled, ‘Gastech 2021: Leading the net-zero agenda’, featured Barkindo, along with HE Suhail Mohamed Al Mazrouei, UAE’s Minister of Energy and Infrastructure and Head of its Delegation to OPEC; HE Arifin Tasrif, Indonesia’s Minister of Energy and Mineral Resources; HE Eng. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of Qatar Petroleum; and HE Dr. Alparslan Bayraktar, Turkey’s Deputy Minister of Energy and Natural Resources.
It was moderated by CNN’s former Emerging Markets Editor, John Defterious.
The UAE’s Minister of Industry and Advanced Technology and CEO of ADNOC Group, HE Dr. Sultan bin Ahmad Sultan Al Jaber, set the scene for the three-day conference, by delivering a welcome address ahead of the panel discussion.
The panel addressed a number of key issues relevant to the energy industry, including the energy outlook, market fundamentals, the role of the private sector in energy, investment, prospects for the global economy post COVID-19, as well as topics connected to COP26 scheduled for October 31 to November 12 in Glasgow, UK.
During the discussion, Barkindo underlined the importance and timeliness of Gastech, noting that the platform provides an opportunity to address key issues and concerns that are related to the industry in person, following a difficult period caused by the COVD-19 pandemic.
On the energy transition, Barkindo stressed the vital role of oil in meeting the growing demand for energy.
He added that predictable investment is required to address the increasing global needs.
He also highlighted the need to address energy poverty and meet global commitments to expand energy access.
Referencing OPEC’s upcoming release of the World Oil Outlook 2021, Barkindo noted that oil and natural gas, together, will continue to supply more than half the world’s energy needs in 2045, with oil at around 28 per cent, followed by gas at 24 per cent.
Valuechain reports that Barkindo’s mission to the UAE includes a visit to the Emirate of Fujairah.
The first major energy event to take place live and in-person in 2021, Gastech is the global platform, with the power to convene world leaders in their global mission to provide a carbon neutral, affordable energy future for all by 2050.
Gastech is an annual world gathering of energy and gas industry leaders, experts, exhibitors, policy makers, business leaders, producers, suppliers and consumers.
It focuses on gas – from exploration to the burners pit – LNG, hydrogen, among others.
Nigeria is an active participant at the Gastech’s conference and exhibitions.
Many of Nigeria’s gas experts and exhibitors have arrived in Dubai for the specialised forum.