H.E. Suhail Mohamed AL MAZROUEI
Minister of Energy and Infrastructure
UAE
Proven oil reserves (2022): 111 billion barrels
Proven natural gas reserves (2022): 6.46 tcm (228.1 tcf)
LNG exports (2022): 7.6 bcm (268.4 bcf)
Installed solar PV capacity (2022): 3.04 GW
Despite its relatively small size, the UAE ranks among the world’s top 10 nations by oil and gas reserve volume. The Abu Dhabi National Oil Company (ADNOC) is responsible for nearly all of the country’s hydrocarbons production. Given profits and royalties from its oil and gas sector, the country has traditionally allotted high levels of investment to its greenfield projects to keep reserves and production robust.
The oil and gas sector is the UAE’s economic axis, representing 40% of its GDP. However, the government has pushed to diversify the economy through its Vision 2030 initiative, which envisions building strong manufacturing and downstream sectors. But while non-oil sectors are becoming a more prominent part of the GDP, hydrocarbons production remains the country’s key economic pillar and main enabler of this diversification. The UAE targets 5 million bopd of production by 2027 to meet soaring energy demand worldwide. Moreover, natural gas is seen as a transitional fuel that will make up 38% of the country’s energy mix by 2050.
The UAE is also expanding the role of renewables in its energy mix. The government is targeting a share of 50% of power generation from nuclear and renewables by 2050. “The UAE follows a positive, pragmatic approach to the energy transition as it continues to meet the global energy needs of today, while investing heavily in the new energy systems of tomorrow,” Minister of Energy and Infrastructure H.E. Suhail Mohamed Al Mazrouei told The Energy Year. Overall, the UAE is the region’s fastest-growing market for renewables, and major opportunities have arisen in the areas of solar, waste-to-energy and hydrogen.
Abu Dhabi's ADNOC has signed a 15-year LNG deal for the supply of 1 million tonnes per year to Indian Oil.
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UAE's ENEC has launched the fourth unit of the Barakah Nuclear Energy Plant into commercial operations.
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Anas Meerza of National Technology Enterprises Company talks about introducing renewables technologies in Kuwait.
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ADNOC is deploying an in-house AI-enabled process optimisation technology across its operations.
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ADNOC has signed a long-term agreement with Japan's Osaka Gas for the supply of LNG from the Ruwais LNG plant.
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Mercantile & Maritime Group has secured land for the expansion of a key terminal at the Port of Fujairah.
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ADNOC Gas has awarded USD 550 million in EPC contracts to enhance the UAE's sales gas pipeline network.
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Anil Abraham, CEO of APT Global, talks to The Energy Year about the company’s most important verticals and how the UAE has become an ideal hub for ship refurbishment,…
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Irfan Mulla, chairman and CEO of Taj Al Mulook, and Shaikh Rafeeque Qureshi, the company’s COO, talk to The Energy Year about how their company has developed its…
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Talal Al Hashmi, CEO of Jaheziya, talks to The Energy Year about how safety measures develop in the energy industry and the company’s offering to the oil and gas…
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Zaheer Juddy, CEO and founder of AIMS Group of Companies, talks to The Energy Year about the critical nature of sulphur removal and processing in the UAE and the…
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Abdulla J. Al Nowais, CEO of Al Nowais Group, talks to The Energy Year about the intricacies and challenges of the UAE’s in-country value (ICV) scheme. Al Nowais…
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Sameer Mohammed, CEO and managing director of Ocean Oilfield Integrated Solutions, talks to The Energy Year about how the company has aligned itself with changing rig…
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Sumeet Vinayak, business development director for GCG and Emirates E&I, and Hassan Metla, group CEO of Aban Investment, talk to The Energy Year about their activities,…
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Jon Rawding, CEO of Euro Mechanical, talks to The Energy Year about the company’s contributions to the UAE’s energy industry and upcoming trends that will shape the…
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Harry Moraes, chairman of Fabtech International, talks to The Energy Year about how the company has achieved its place at the forefront of the fabrication industry and…
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Mitsuru Anezaki, CEO of Al Gharbia Pipe Company (AGPC), talks to The Energy Year about the company’s current projects and the competitive advantages that have allowed…
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