Latest news with #AtlanticCouncilGlobalEnergyForum
Al Etihad
4 hours ago
- Business
- Al Etihad
Sultan Al Jaber participates in Atlantic Council Global Energy Forum in Washington
18 June 2025 13:04 WASHINGTON (WAM)Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, and Executive Chairman of XRG, on Wednesday called for the energy, technology, finance, and policy sectors to work in sync to meet the once-in-a-generation investment opportunity of artificial intelligence (AI).Delivering a keynote address in Washington DC at the ninth edition of the Atlantic Council Global Energy Forum to an audience of policymakers and industry leaders, Dr. Al Jaber described AI as the next stage of human evolution—and emphasised that meeting its demands will require an equally transformative shift in energy policy, investment, and infrastructure.'The race for AI supremacy is not just about code—it's about gigawatts,' he said.'Every AI breakthrough consumes more power. And right now, global energy systems are not ready.' He noted that the US alone may require 50–150 gigawatts of new capacity by 2030, dependent on the energy source, equivalent to the total consumption of dozens of major meet that challenge, Dr. Al Jaber outlined a system-wide roadmap—developed in partnership with XRG, MGX, and the Atlantic Council—calling for fast-tracked permitting, modernised grids, and strategic investment in gas, nuclear, and renewables.'You can't run tomorrow's technology on yesterday's grid,' he said.'Permitting delays and supply chain bottlenecks are now threats to progress. Policy must help, not hold back.'Dr. Al Jaber highlighted that the size of the opportunity is huge and the key to unlocking it is partnership. He explained that this is why the UAE and the US are enjoying a 'powerhouse partnership' across every sector.'For us, the United States is not just a partner—it's an investment imperative,' Dr. Al Jaber added.'US companies are among the UAE's largest concession partners, active from upstream to downstream. Currently, the UAE energy sector works with US companies across 18 states and 50 facilities, from gas to chemicals to energy infrastructure and energy solutions.''XRG is an anchor partner in the largest LNG facility in Texas. We produce speciality chemicals across the country. And our renewable energy company, Masdar, has developed 5.5GW of operational capacity from coast-to-coast. And we are just getting started. To help harness that ambition, we opened a joint XRG/Masdar office right here in Washington DC.'He highlighted that a single new data centre can consume as much electricity as a city the size of Pittsburgh.'Meeting this demand is not just a technical challenge – it is a once-in-a-generation investment opportunity. One that requires a system-wide shift, with energy, technology, finance, and policy operating in sync,' he Al Jaber argued that 'in the age of hyperscalers, we must hyperscale energy,' calling for reliable baseload sources such as gas and nuclear, backed by renewables, energy storage, and emerging solutions like small modular reactors (SMRs) and fusion. He also advocated for a 'pragmatic pause' on early retirements of existing power plants while expanding nuclear emphasised that modernising power delivery is equally urgent. 'Wait times for key components like transformers can exceed three years. That's not just a supply chain problem – it's a bottleneck to industrial growth. Unlocking this opportunity requires permitting reform, workforce development and de-risked capital.'He noted that, 'the tech sector runs on quarterly horizons; the power sector runs on decade-long timelines. We must bridge that divide. We must de-risk major capital investments, and policy must help, not hold-up progress. Currently, there are 2600GW of planned capacity around the world waiting for a connection. We must take that gridlock out of the grid.'Explaining that power generation 'is just one half of the equation' and 'delivering that power to the end user is the other, more complex half,' he called for efforts to train one million new electricians for the 21st century grid and unleashing AI's own potential to help manage energy systems more the situation in the Middle East, and its impact on regional and energy security, Dr. Al Jaber emphasised that the UAE will always stand for dialogue, de-escalation and diplomacy in resolving disputes and called on all parties to show restraint, respect the sovereignty of states and adhere to international law.'Concluding his remarks, Dr. Al Jaber called for greater collaboration to fully harness the power of AI and unlock significant economic opportunities.'To realise the full power of AI, we must give it the power it needs. That starts with a coordinated roadmap applied locally and scaled globally. We need policy that clears the path, infrastructure that carries the load, and investment that meets the moment.''AI and energy are the twin engines of progress. Two engines. One direction. Fast-forward into the future.'Dr. Al Jaber was speaking a day after convening the second ENACT Forum in Washington DC The Majlis-style meeting brought together leaders from energy, technology, finance, and government to advance a cross-sector action agenda for meeting AI-driven power demand, accelerating infrastructure investment, and delivering the system-wide solutions needed at speed and on these discussions, a new roadmap for cross-sector action was published today titled "Powering the Next Great Leap in Human Progress." It sets out the opportunities and integrated solutions required both to address the immediate energy surge from rapid AI-driven data centre growth, and to guide longer-term investments that will build a smarter, more resilient, and more efficient energy report highlights practical approaches across the full energy value chain, investment and policy opportunities, many of which are themselves AI enabled. It includes optimising existing generation capacity, modernising and expanding grid infrastructure, incentivising demand management, strategically siting new data centres and accelerating next-generation technologies. The framework emphasises the need for bold, system-wide action to ensure that the full transformative potential of AI can be fully realised.
Arabian Post
8 hours ago
- Business
- Arabian Post
UAE's ADNOC to Unleash $440bn Energy Surge in US
Arabian Post Staff -Dubai Abu Dhabi's state‑owned oil giant ADNOC has unveiled plans to escalate its U.S. energy investments six‑fold over the next decade, targeting a total of $440 billion. Speaking in Washington on 17 June, Sultan al‑Jaber, ADNOC Chief Executive and UAE Minister of Industry and Advanced Technology, declared that the American market is 'not just a priority; it is an investment imperative' for the company's global expansion. Al‑Jaber underlined the urgency of the move, emphasising that artificial intelligence represents a 'once‑in‑a‑generation investment opportunity.' He pointed out that the growth of data centres driven by AI will demand substantial power— 'The next stage of evolution' in energy consumption, he said. The planned investments will span a wide spectrum: anchor stakes in the largest liquefied natural gas facility in Texas, petrochemical plants, and the deployment of 5.5 gigawatts of renewable energy paired with storage systems 'from coast to coast'. ADVERTISEMENT ADNOC's international investment arm, XRG, is cementing its presence with a new Washington office, aimed at steering these high‑stakes ventures. XRG has already struck a deal with Occidental's 1PointFive for a direct air capture project in Texas, with potential investment reaching $500 million. Additional widescale cooperation includes agreements to develop U.S. gas, LNG, specialty chemicals and energy infrastructure. The announcement synchronises with a broader bilateral strategy: in March, senior UAE officials committed to a ten‑year, $1.4 trillion investment framework in the U.S., covering sectors such as AI, energy, semiconductors and manufacturing. As part of that pact, U.S. companies agreed to invest $60 billion in UAE energy assets. The XRG–Occidental partnership, as well as other collaborations involving ExxonMobil, Japanese firms Inpex and JODCO, is expected to expand capacity at Abu Dhabi's major offshore oil field, Upper Zakum. At the Atlantic Council Global Energy Forum in Washington, al‑Jaber addressed the broader challenge of powering AI, stating that U.S. energy infrastructure must undergo a 'system‑wide shift' to keep pace. He highlighted the need to hyperscale energy supply—from gas, renewables with storage and nuclear—to meet the projected requirement of 50–150 GW of new capacity just in the next five years. He warned against prematurely retiring existing power plants, advocating instead for grid modernisation and rapid permitting for new infrastructure. Environmental groups have voiced concern that the surge in AI‑driven energy demand could lead to rising carbon emissions unless clean energy is prioritised. In response, al‑Jaber suggested that AI could, in fact, offer solutions—optimising grid efficiency and managing load fluctuations, effectively 'unlocking its own energy challenge'. The energy‑AI summit ENACT, hosted by XRG and MGX alongside the Atlantic Council, gathered leading figures from across the energy, tech and finance sectors. Delegates, including representatives from Exxon, OpenAI and BP, discussed mid‑ and long‑term strategies to address the escalating power needs of hyperscale data centres. These developments are set against a backdrop of rising instability in the Middle East, where al‑Jaber cautioned that energy remains a 'cornerstone of peace, stability and prosperity,' signalling that the new chapter of collaboration aims to underpin global energy security. For the U.S., the influx of investment promises a host of benefits: large‑scale infrastructure expansion, high‑task employment, and reinforced energy resilience. Projects under the UAE umbrella—from LNG plants to hydrogen and carbon capture initiatives—are poised to generate thousands of jobs, while U.S. energy firms gain access to new development avenues both at home and back in the Gulf. Yet questions remain. Policy experts stress that realisation of al‑Jaber's ambitious vision will depend heavily on ensuring timely regulatory approvals and creating an effective risk environment for private capital. Moreover, balancing fossil fuel commitments with the drive toward decarbonisation will require clear direction from both governments and industry stakeholders.
