India at ADIPEC Conference
ADIPEC conference is being held in Abu Dhabi, from November 15 to November 18, 2021.
Highlights
- World’s biggest oil & gas companies and several OPEC+ energy ministers are there in Abi Dhabi to attend this conference.
- The conference is taking place in the backdrop of COP26 climate talks and increasing energy prices.
- Brent crude has increased by 60% in 2021, to above $80 a barrel.
- Natural-gas prices in Asia and Europe also hit record highs in recent times.
- During the conference, India’s petroleum minister Hardeep Singh Puri said, India made a “concerted push” with OPEC+ on oil production. However, it also advised major consumers against selling their strategic reserves.
Energy using blue ammonia
Mitsui of Japan and GS Energy of South Korea, will partner with Adnoc and Fertiglobe for developing blue ammonia. Blue ammonia will be developed at Ta’ziz industrial zone in Ruwais, Abu Dhabi. It will be taken by Mitsui and GS Energy to meet increasing energy demands in Japan and South Korea.
Blue Hydrogen
Several major state energy firms in Persian Gulf, like Adnoc and Saudi Aramco, are holding talks with companies in Asia regarding long-term supply contracts for blue hydrogen. Blue Hydrogen fuel is made by converting natural gas and capturing carbon emissions.
What is ADIPEC?
ADIPEC is the world’s most influential meeting place. it is hosted by Abu Dhabi National Oil Company (ADNOC). During the meeting, oil, gas and energy companies and professionals convene in-person, to engage & identify the opportunities in a bid to unlock new value in energy landscape. ADIPEC provides opportunities for visitors, sellers and buyers to meet, learn, do business as well as discover new products, solutions and technologies.
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Month: Current Affairs - November, 2021