The 40th Edition of ADIPEC, held on 4 – 7 Nov. at Abu Dhabi, succeeded at least in one thing: getting to talk about Decarbonisation in the heart of the Middle East, the champions of hydrocarbon energy. It’s no mean task to get the Arab World to agree to even look at the negative impact of Oil & Gas on the environment. The theme at ADIPEC ’24 was ‘Decarbonising. Faster. Together.
The grand event featured 10 conferences, over 370 sessions, and more than 1,800 speakers. It also included 16 exhibition halls with more than 2,200 exhibitors and 30 country pavilions. It had
205,139 participants from 172 countries and was the most gala world event of the Oil & Gas Sector this year. The unprecedented patronage should surely bring in policy changes in the Oil & Gas realm. But would it really so so? There was tongue and cheek discussions on Energy Security, Realistic expectations and Costs which go with energy transition. India’s Minister for MoP&NG also was quick to point at global co operation for affordable energy for all.
This brings us to an interesting point which NewsIP has always been pointing out and sharing with its esteemed readers. While many in Government speak lauditarily of alternatives, there is also talk about huge investments in Oil & Gas. This certainly, to a common man, seems to be a contradiction of sorts. If the shift is to be onto renewables and other eco-positive energy sources, why should India keep in investing in archaic energy sources? Who will the customer be in India if there is a wholesale shift? Exports would also not be an alternative as the world would have moved on.
Why still invest in West Coast Refinery, One in Andhra and ONGC current favourite of setting up a Refinery in UP. All these seem to be based on political expediency which makes least business sense. In ADIPEC, there was talk of “Hydrogen regardless of Colour.” In India, some Private Players are getting ready for the Colourless, Tasteless, Odourless Hydro Gold, while PSUs do not seem to have any matching plans. One cannot make any sense of political leaders of all hues in India not having a concerted view of Energy requirements of future India.
NewsIP has constantly been bringing out the position that India is very sensitively placed as far as it’s Energy Needs go. It may even equal China’s energy needs or even surpass it. Are the Indian Babus, who at most times are confused than really focussed in their advisory capacity, due to their lack of professional expertise, once gain leading Indian Politicians up a wild goose chase?