ADIPEC 2023 concluded recently, with the global energy industry reaffirming its commitment to decarbonize and fast-track the energy transition.
Representatives from over 2,200 companies attended the event. More than 30 country pavilions hosted companies that showcased the latest products and solutions for the energy sector.
ADIPEC milestones
This year’s edition of ADIPEC reinforced its status as the premier platform for the energy industry to do business. Among the deals signed at the event, Baker Hughes announced a milestone electric-LNG award for ADNOC Ruwais LNG export terminal. Petrofac revealed it recently was awarded a $600m contract with ADNOC.
The Department of Economic Development announced Abu Dhabi will provide 100 investment opportunities with a combined market size of Dh123.3 billion ($33.5 billion) by 2027.
Meanwhile, OXY subsidiary 1PointFive and ADNOC signed an agreement to commence a jointly funded preliminary engineering study for a one million ton-per-year Direct Air Capture (DAC) facility in the UAE.
The event closed on a high note with a new attendance record. More than 184,000 visitors from 160 countries came to the world’s largest energy exhibition and conference. This marks the largest number of visitors in the event’s history.
In addition, ADIPEC 2023 saw the united stand of the global energy sector to accelerate decarbonization. Moreover, the consensus called for urgent, collective action to future-proof the energy system.
Read: UAE eyes 19.8 GW clean energy by 2030: ADIPEC 2023 highlights
Decarbonizing initiatives pushed
ADIPEC focused on the priorities such as achieving near zero methane emissions by 2030 and scaling deployment of climate technology. It also sought to tackle the core challenges of building the energy system of tomorrow. This will enable the industry to lower emissions without sacrificing economic growth where it is needed most.
COP28 President-Designate, Dr Sultan Al Jaber, delivered the opening keynote with a call “to show the world that, in fact, you are central to the solution” of fast-tracking the energy transition, assuring energy security while urgently phasing out emissions.
Over four days the entire energy value chain answered his call, with more than 1,600 ministers and executives sharing knowledge and developing strategies to future-proof energy systems during 350 curated strategic conference sessions.
Christopher Hudson, President of dmg events, said: “As we bring another successful ADIPEC to a close, it has been incredible to see the momentum to drive forward decarbonization solutions and build the energy system of tomorrow. The outcomes of the productive discussions that have taken place will reverberate throughout the industry and beyond, and I look forward to seeing what can be achieved between now and ADIPEC 2024.”
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