Abu Dhabi's Masdar CEO stresses need for securing energy

Dr Sultan Ahmed Al Jaber, CEO of Masdar, Abu Dhabi's renewable energy company, yesterday addressed the Brookings Institution, the Washington, D.C.-based non-profit organisation, which is considered one of the world's leading think tanks. In the lecture, Dr. Al Jaber underscored the important role oil and gas has played in the industrial, economic and social developments that last century witnessed. As an example, he cited the growth the United Arab Emirates has achieved under the directives of the wise leadership. He also stressed that ensuring energy security is the only way to guarantee continued economic and social growth and meet the increasing demand on energy. He explained that oil and gas shall continue to play an essential role in future energy markets, noting that it is also crucial to build a diversified energy mix that includes nuclear and renewable energy. The lecture explained the efforts the UAE is carrying out to diversify its energy mix through initiatives like Masdar, which is focusing on all necessary pillars of the value chain necessary to build a new sector, including research and development, investment, developing renewable energy projects and implementing the principles of sustainable development. The lecture noted that North America's discovery of abundant reserves of shale gas and oil helped support the economy and create job opportunities. Dr. Al Jaber stressed that a balanced, diverse energy mix will satisfy the world's growing power demand and ensure long-term energy security. Balancing global economic prosperity and energy security with the need to reduce carbon emissions is a key focus of the Energy Security Initiative at Brookings, which develops, discusses, and disseminates high-calibre energy research. The research and recommendations of the nearly 100-year old Brookings Institution have historically exerted a strong influence on official US policies. "The natural gas boom is changing the energy landscape in North America and strengthening the economy," said Dr. Sultan Ahmed Al Jaber, CEO of Masdar. "With the growth in energy demand both in the United States and around the world, it is crucial that we remain committed to investing across various energy sources and technologies. "The United States has the opportunity to solidify its position as a renewable energy leader while securing its long term energy security. As energy rich nations, the United States and the United Arab Emirates have a responsibility to invest in advancing the renewable energy sector and build a low-carbon future," add Dr. Al Jaber. The Brookings Institution has long been an advocate for the development of energy sources that do not contribute to climate change. Charles Ebinger, director of the Energy Security Initiative at the Brookings Institution, said: "Masdar has emerged as the world's go-to institution for clean energy technology research, development, deployment and financing. The tremendous foresight of its leaders is enabling it to accelerate the commercialisation of technologies that are paramount to the future of the global energy sector. Moreover, that Masdar has been so active in engaging with private-sector leaders and governments from around the world underlines the group's vision and commitment to a clean energy future." The leadership of the UAE has placed energy at the heart of its sustainable development agenda. Contributing to the diversification of Abu Dhabi's energy mix, Masdar is developing large-scale renewable energy projects, including the 100MW Shams 1in Abu Dhabi - the world's largest concentrated solar power plant in operation. "Overseeing the seventh-largest proven oil reserves, the visionary leadership of the UAE is looking beyond hydrocarbons and is advancing new technologies and sources of power to diversify the local and global energy mix. Today, along with barrels of oil, the UAE is exporting clean energy to international markets," added Dr. Al Jaber.