ADIPEC 2024 was a commercial success with more than $10bn of deals announced at the energy conference in the UAE
ADIPEC 2024 has concluded with $10bn of deals, record attendance and landmark announcements.
ADIPEC has cemented its position as one of the world’s most influential and commercially successful energy events, with a record number of attendees, industry executives and international ministers uniting to accelerate sustainable socioeconomic progress for the world.
This year’s ADIPEC was the culmination of four decades of energy leadership, and gathered a record-breaking 205,139 participants from 172 countries.
ADIPEC 2024
The numbers indicate a stronger and more diverse increase in global participation, up by more than 20,000 attendees compared to last year.
The event was the most successful edition in its 40-year history and delivered more than $10bn cross-sector deals through multiple strategic partnerships.
The ADIPEC Conference programme featured four new conferences that welcomed new voices from technology and AI, finance, youth and the Global South.
Across 370 sessions, attendees heard from more than 1,800 international speakers, including 40 ministers, on the economic opportunity that can be realised by collaborating across sectors.
Participants advanced the call to action by Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, to unlock the transformative potential of the three megatrends of:
- The rise of the global south and emerging markets
- Growth of artificial intelligence (AI)
- Energy system transformation
Tayba Al Hashemi, Chair of ADIPEC 2024 and CEO of ADNOC Offshore, said: “The record-breaking 40th edition of ADIPEC has successfully convened the leading minds across multiple industries and geographies to drive value creation opportunities and innovative solutions to shape a more sustainable energy future.
“With a dedicated focus on the transformative potential of AI, ADIPEC has provided a global platform to unlock the economic opportunities that can be realised by collaborating across sectors. We will build on this momentum as we look forward to an even more impactful ADIPEC in November 2025.”
On the eve of ADIPEC, the ENACT Majlis emphasised this theme and the economic opportunity that can be realised by collaborating across sectors and embracing the interconnectedness of energy and AI.
The majlis, hosted by Dr. Sultan Ahmed Al Jaber, convened 80 global leaders from the energy, technology, climate, and investment sectors to harness the opportunities of the AI-Energy-Climate Nexus.
ADIPEC’s inaugural AI Zone further demonstrated the interconnectedness of energy and AI and how cross-sectoral collaboration is essential to meet the fast-growing energy needs of AI and leverage AI to enhance energy efficiency and minimise emissions.
Collaboration across countries and sectors was a guiding thread across ADIPEC’s 16 exhibition halls, as more than 2,200 exhibitors and 30 country pavilions converged to develop new partnerships and strategies to drive sustainable socioeconomic growth. Innovation emerged as a core theme and key driver of progress, with 133 exhibitors focused on AI, digitalisation and automation solutions to fast-track the energy transformation.
Speaking to the importance of collaboration and equitable financing in ensuring an energy future which leaves no one behind, Shri Hardeep S Puri, Minister of Petroleum and Natural Gas, India, said: “Energy is the spinal cord of an economy. When we talk about the global south, we sometimes forget where the global south is and what issues they have to face. In order for us to make the transition, we have to leverage the tools currently at our disposal and invest in the future.
“We have to make sure that they coexist harmoniously with green energy, because our people need affordable fuels.”
The importance of developing new financing frameworks for an evolving energy industry was a central theme at ADIPEC 2024, reflected by the event’s inaugural Finance and Investment Conference. The conference offered leaders from government, finance and energy a platform to discuss the disparity between capital flows and the investment necessary for a fair and inclusive energy ecosystem.
Deals delivered at ADIPEC included:
- ADNOC Drilling’s acquisition of a 95 per cent stake in Deep Well Services for $223m
- TA’ZIZ’s award of more than $2bn for essential infrastructure at Al Ruwais Industrial City
- BGP Inc’s new contract with ADNOC, worth $490m, to expand the world’s largest 3D seismic survey in Abu Dhabi
In addition, Black & Veatch and Baker Hughes unveiled plans for a mid-scale LNG solution capable of producing up to 2 million tonnes per annum, while JOGMEC and the International Energy Forum signed a Memorandum of Understanding to promote research in carbon capture and clean hydrogen.
During the conference, the 41st edition of ADIPEC was announced, set to take place from November 3 to 6, 2025. This event will build upon the conference’s rich legacy, uniting the energy sector in its vital mission to decarbonise, continuing to inspire the essential discussions and forge the transformative partnerships that will shape a sustainable future for the energy industry in the years to come.
Source: www.arabianbusiness.com
