ADNOC to Forge Sustainable Technology-Energy Partnerships for AI’s Rapid Expansion
London, November 04, 2024, (Oilandgaspress) –––His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, today convened 80 global leaders from the energy, technology, climate, and investment sectors at a majlis to harness the opportunities of the AI-Energy-Climate Nexus.
The ENACT Majlis focused on developing strategies to reshape tech-energy partnerships for the sustainable delivery of energy that supports AI’s rapid growth. Rooted in longstanding Emirati traditions, the majlis served as a platform for open, bold, and solutions-oriented discussions.
The gathering emphasized the economic opportunity that can be realized by collaborating across sectors and embracing the interconnectedness of energy and AI.
H.E. Dr. Sultan Ahmed Al Jaber remarked: “The ENACT Majlis convened the leading minds in energy, technology, and investment to drive opportunities and advance solutions that maximize the transformative potential of AI. The exponential growth of AI is also creating a power surge that no single energy source can meet alone. We need a collaborative and integrated response across all sectors to unlock innovative solutions and fully harness the potential of AI. The ENACT Majlis has kick-started an action agenda to realize these opportunities and deliver sustainable value for all.”
Participants highlighted the urgent need to expand and accelerate investments in low-carbon energy solutions. Noting that AI data center power demand is expected to double by 2030 to 150 GW and rise to 330 GW by 2040, they underscored the requirement for $600 billion in annual infrastructure investments and 80 million kilometers of power grid upgrades by 2040. Attendees agreed that there is no single energy solution and that nuclear, gas and renewables are needed.
The industry leaders also agreed that AI can drive energy production efficiency while reducing emissions across the energy sector. They discussed methods for optimizing energy consumption across various sectors and highlighted the challenges and opportunities in scaling AI within industrial systems. Attendees also addressed the role of AI in modernizing power infrastructure, particularly in power transmission, highlighting the need for significant infrastructure upgrades.
Financing mechanisms for the AI-energy nexus were a key topic, with discussions on investment in technologies aligning with data center energy demands. The ENACT Majlis highlighted the need to advance a just and equitable energy transition that ensures global progress by addressing economic and infrastructure challenges, particularly in the Global South.
The Majlis followed the release of a joint report by ADNOC, Masdar, and Microsoft titled “Powering Possible: AI and Energy for a Sustainable Future,” informed by insights from over 400 thought leaders in technology, energy, and finance. The report explores AI’s role in optimizing energy efficiency, managing complex systems, reducing emissions, and supporting a net-zero future while addressing the growing energy demands of AI technology.
The ENACT Majlis took place on the eve of ADIPEC 2024, the world’s largest and most influential energy industry event which is taking place in Abu Dhabi from 4-7 November.
Participants at the ENACT Majlis included: HRH Princess Beatrice, Founder, BY-EQ; Brad Smith, Vice Chair & President, Microsoft; Jonathan Ross, CEO & Founder, Groq; Strive Masiyiwa, Chairman & Founder, Econet; Anima Anandkumar, Bren Professor, Caltech; Adebayo Ogunlesi, Chairman and CEO, Global Infrastructure Partners; Mark Carney, UN Special Envoy for Climate Action and Finance & Chair, Brookfield Asset Management; Luc Remont, CEO, EDF; Wael Sawan, CEO, Shell; Murray Auchincloss, CEO, bp; Claudio Descalzi, CEO, Eni; Dong Sub Kim, CEO, KNOC; Takayuki Ueda, CEO, INPEX; Patrick Pouyanné, CEO, TotalEnergies; Tengku Muhammad Taufik, President & GCEO, Petronas.
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