Suhail Al Mazrouei, the UAE’s Minister of Energy, claimed that 11 projects totaling 159 billion dirhams have been completed by his nation as part of mega-energy projects that are environmentally benign (43.3 billion US dollars).
UAE produced 7,35.75 megawatts of clean energy in 2021, in reference to the nation’s efforts in this area. This was in conjunction with Abu Dhabi Sustainability Week.
Despite having substantial oil reserves, the UAE’s Minister of Energy noted that his nation has emerged as a global leader in the use of renewable energy, and it continues to rank among the top nations for adopting cutting-edge international technological advancements as well as international practices in the energy sector.
Integrated Energy Approach
According to Suhail Al Mazrouei, his nation has the first unified energy policy, the National Strategy 2050, which aims to create a balance between economic and environmental goals and lessen reliance on other fuel sources. It targets a combination of renewable and clean energy.
According to statements viewed by the specialized energy platform, he emphasized that the UAE adopts the most recent innovations with the goal of achieving sustainability in the renewable energy sector and protecting the environment and is one of the first countries to ratify the Paris Climate Agreement.
The Minister of Energy continued: “By reviewing the Energy Strategy 2050, developing the National Hydrogen Strategy, and preparing for the next phase by developing policies and strategies and adopting a proactive approach that supports the UAE’s global leadership and enhances its position as a global model for comprehensive sustainable development in the energy sector, the Ministry of Energy has begun to shape the future of the energy sector over the next 50 years.
According to the UAE’s Minister of Energy, the country’s energy mix in 2021 included 19.63% clean energy, 12% renewable energy, and 7.55% nuclear energy, all of which was achieved within the framework of the Energy Strategy 2050.
Regarding the anticipated adjustments to the nation’s renewable energy plans, he explained that due to issues with energy security caused by global disruptions in the energy supply, the UAE will put more emphasis on using domestic resources that are the cheapest while also increasing non-oil sector exports to meet its energy needs.
He emphasized that the UAE has a significant amount of solar energy potential and that solar energy’s cheap costs will help the country accomplish its 2050 objective of being climate neutral. Renewable energy will also assist the UAE to achieve its energy security and respiratory capacity targets.
Future of the Oil Market in 2023
According to remarks viewed by the specialized energy platform, Suhail Al Mazrouei, the UAE’s Minister of Energy, commented on the expectations for the performance of the world’s oil markets in 2023, stating that there are numerous factors related to the oil market that are a major driver of oil prices during the current year.
The US’s decision to replenish its strategic oil stocks, China’s decision to stop its “zero COvid” policy, restrictions on seaborne oil products, and ongoing global inflation, he said, are some of the causes that could cause prices to rise.
Al Mazrouei, on the other hand, asserts that there are more elements that could have a detrimental effect on oil prices, including the return of energy commerce between Russia and the European Union, the global economic downturn, and the reduction in Chinese demand.
Nuclear Power Plant in Barakah
The Barakah Nuclear Energy Plant, whose third unit is almost ready for commercial operation, is one of the most significant creative energy projects in the switch to environmentally friendly energy, according to UAE Minister of Energy Suhail Al Mazrouei.
The 4 plants will lessen 22.4 million tonnes of carbon emissions, which are a major contributor to climate change, in addition to promoting sustainable development and energy stability security, he noted.
The Minister emphasized that the third plant’s commissioning represents a significant step forward in the development of the Barakah 4 plant, the first multi-plant peaceful nuclear energy project in the Arab world. This plant is also essential to accelerating the UAE’s energy sector’s carbon footprint reduction in order to achieve climate neutrality by 2050.
He went on to say that the operation coincides with a period when many nations are attempting to lessen the consequences of energy shortages caused by the global financial crisis, confirming the success of the country’s 2008 decision to include peaceful nuclear energy in its diversified energy portfolio.
When fully operational, the third plant, according to Al Mazrouei, will add 1,400 megawatts of clean electricity to the UAE’s electrical grid, ensuring energy security and making a significant dent in climate change. This is especially true given that the Barakah plant already supplies environmentally friendly electricity to homes, businesses, and high-tech industries throughout the nation.
UAE’s hydrogen policy
Suhail Al Mazrouei spoke on the UAE’s hydrogen strategy, noting that it is built on 10 major axes to help the nation reach its objectives under the “We are the UAE 2031” program, which is to rank among the top 10 nations in terms of hydrogen production and exportation by the year 2031.
According to the specialized energy platform, the 10 components are laws and policies, sustainable trade and economic models, climatic and social drivers, international collaboration, finance and investment, research and development, industrial growth and operationalization, and skill education.
The minister said that because his nation has inherent competitive advantages, hydrogen will be able to diversify the economy of the United Arab Emirates through the growth of both new and existing industries. He also said that hydrogen will be crucial to the National Energy Strategy 2050 and the Climate Neutrality Strategy 2050, both of which he hopes to introduce in the first quarter of this year.
Regarding the number of hydrogen projects, the energy minister of the UAE stated that his nation produces about 0.3 million tons of gray hydrogen annually for use in refineries, that there are pilot projects for “DEWA” and “Siemens,” and that ammonia based on blue hydrogen is exported to Germany and Japan.
More than ten projects are now being implemented, seven big projects are being developed, and further projects are in the feasibility study stage, he noted.