Lloyd's Register hosted an industry roundtable discussion on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) on the 8th November, inviting a cross-section of senior stakeholders from national and international oil companies, environmental companies, financial consultancies and academia and research. Participants debated the challenge that regional economies face in establishing a cost-efficient low carbon future while not jeopardizing their energy economics and security.
Most participants were of the view that the growth of the low carbon market is not a threat to the prominence of hydrocarbons, which will be a primary source of energy for at least five decades. Instead, renewables open a gateway for hydrocarbon producers, and wider industry, to expand the scope of their R&D to cut costs and enhance operational efficiency.
Key points are detailed in this White Paper.