The international energy supply chain can expect USD8.2 billion in revenue from ADIPEC 2022
A survey of the 2,200 exhibitors at ADIPEC 2022, which took place in Abu Dhabi from October 31st to November 3rd, found that the event generated an estimated USD8.2 billion in business for the exhibitors. ADIPEC 2022 brought together some of the best minds in the energy markets around the world to address critical issues facing the energy sector, such as the trilemma of security, affordability, and sustainability of energy supply.
Over 40 Ministers and 38 global CEOs, policy officials, energy experts, and innovators offered their perspectives on achieving a progressive and pragmatic transition and the critical role of investment and collaboration on the path to Net Zero in more than 350 sessions covering the future of energy.
Nearly half (41%), or more than 160,000 people, came from outside the country to attend ADIPEC 2022. The tourist and hospitality industries, among others, helped bring in an estimated USD200 million to the United Arab Emirates throughout the course of the four-day event.
To successfully design a future of energy that is secure, sustainable, and affordable, ADIPEC 2022 Chair and ADNOC Sour Gas CEO Tayba Al Hashemi stated, "ADIPEC 2022 lays out the need for a bold and realistic energy transition, an approach that is both pro-climate and pro-growth." More and more representatives from around the world's energy business and government agencies attend each year, making an influence not just in Abu Dhabi and the UAE but also around the world.
Next year, the UAE will welcome world leaders to the country for COP28 - The Emirates Climate Conference with the UNFCCC, where the progress made on climate action, the energy transformation, and the energy trilemma will be front and centre. The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2023), set to take place from October 2-5, roughly a month before the United Nations Climate Change Conference (COP28), will play a pivotal role in shaping industry discussions around some of these key challenges energy markets face today.
ADIPEC featured the world's first ever Decarbonization Zone and Conference, and the topic of decarbonization was a central focus during the four days of the event. The latest innovations that will allow stakeholders to meet the rising demand for green solutions, attract strategic partnerships and cross-industry participation, generate funding mechanisms, and transform creative ideas into workable solutions for a cleaner energy future were discussed by a panel of experts.
The United Nations Environment Programme (UNEP) released a report titled An Eye on Methane: International Methane Emissions Observatory 2022, which showed that more than 80 oil and gas firms around the world have committed to detecting and lowering their methane emissions by 2022. It was recommended by UNEP that businesses do more to reduce methane emissions and combat climate change.
At ADIPEC 2022, the United Arab Emirates and the United States signed a historic agreement that is expected to spur USD100 billion in investment in renewable energies and clean technologies in the UAE, the United States, and rising countries throughout the world by 2035.
An deal between PETRONAS, Accenture, and Amazon Web Services (AWS) was signed during ADIPEC to reduce the expenses associated with offshore vessels' logistics operations.