The brand value of ADNOC is US$12.8 bn and the brand ranking is 159. The brand strength index is 79.1.
His Excellency Dr. Sultan Ahmed Al Jaber is UAE Minister of Industry and Advanced Technology and ADNOC Group CEO. The interview was conducted by Brand Finance and it has been edited as needed.
“ADNOC recently co-invested alongside a consortium of Abu Dhabi’s energy giants to transform Masdar into the region’s pre-eminent renewable energy powerhouse.”
What role can and should the oil and gas industry play alongside the entire
the energy industry in the global energy transition?
I think it is vital to leverage the expertise of the entire energy industry, including the hydrocarbon industry in ensuring the success of the global energy transition, because, if there is one thing that the history of every energy transition tells us, it is that they take time.
You cannot simply flip a switch. To successfully navigate a complex transition to the energy system of tomorrow, we can’t just unplug from the energy system of today. We must remain pragmatic while being progressive.
We should look for solutions where energy expertise exists. And we should
always remember that our goal is to hold back emissions, not progress. In line with
With this thinking, the UAE has taken an integrated approach to the energy transition
and built on its experience as a reliable oil and gas supplier to become a center of
excellence for all forms of energy.
I have been fortunate to have had the opportunity to play an active role in this diversified model as the founding CEO of Masdar – the renewable energy company – alongside my current role as ADNOC’s CEO.
As a result of this integrated approach, the UAE is one of the world’s leading suppliers of oil and gas, whilst also being home to the world’s largest and lowest cost solar plants, as well as the host of the International Renewable Energy Agency – IRENA.
We believe that by taking a progressive approach to climate action and a proactive
approach to the energy transition, we can create new industries and new economic
opportunities while remaining a reliable supplier of all forms of energy to the world.
How is ADNOC specifically contributing to helping this transition?
As long as the world relies on hydrocarbons during the energy transition, they must be as low carbon as possible.
So one of the key contributions ADNOC is making is ensuring we supply the least carbon-intensive barrels to the world.
By geology and design, our signature grade, Murban, has less than half the carbon intensity of the industry average. And we are building on a legacy of
environmental responsibility that our founding father Sheikh Zayed set when our company was founded 50 years ago.
As such, we introduced a zero intentional flaring policy before many of the majors and have reduced flaring by over 90 percent since 1971. We maintain one of the lowest methane intensities of any hydrocarbon producer in the world at 0.01 percent and we constantly apply new technologies and innovations to build on this position. For instance, we were the first oil and gas company to introduce carbon capture and storage technology to the region.
Against the backdrop of COP 26, what are the other key technologies and
innovations of the future? What is ADNOC doing in this space?
As I mentioned, we are always looking for innovative ways to reduce our carbon footprint, and as of January 1st, 2022, in what is a first for our industry, we transferred 100% of ADNOC’s grid power to zero-carbon energy sources, by plugging into nuclear and solar energy.
In addition, we are proactively moving into the clean energy supply chain space, taking advantage of the massive growth potential of this sector. Globally, at least 3 trillion dollars will be spent on renewable energy over this decade, as countries enact plans against net zero commitments.
As the interview continues, ADNOC is taking steps not just in the wind and solar but also in the global hydrogen market. The goal is to make Abu Dhabi and the UAE a significant hub for hydrogen production and supply.
Source: Brand Finance