Delivering A Successful Energy Transition

DrMatarAlNeyadi, undersecretary at theUAEMinistry of Energy and Industry and chairman of theUAEOrganisingCommittee for the24thWorld Energy Congress, explains how theUAEis adapting to a fast-changing energy landscape

TECHNOLOGY INNOVATION, digitalisation and use of data are inherent to energy systems. The oil and gas sector, for example, has traditionally been a pioneer in using digital technologies to model exploration and production assets. Before the concept of the ‘fourth industrial revolution’ was even conceived, many industries had been using automation or automatic controls to operate equipment for decades.

The difference today is the pace at which change is taking place, particularly technological breakthroughs. The evolution of technology, customer-orientated services, disruptive business models, national strategies and agendas has never been faster. The energy market, often built on large and long-term plans, infrastructure and assets, now faces the challenge of adapting quickly to mirror these changes.

As the 2018 Global Issues Map developed by the World Energy Council shows, innovation remains the main issue that keeps energy leaders awake at night. Areas such as digitalisation, electric storage, market design, decentralised systems, and renewables are receiving greater attention as their impact grows across the energy industry. Yet at the same time we are seeing a decrease in the reliance on centralised technologies and greater certainty around electricity prices and energy affordability.