Mubadala highlights energy industry “trilemma”

Musabbeh Al Kaabi, CEO for petroleum and petrochemicals at Mubadala Investment Company, has called for industry to look to new technology as it attempts to balance issues of energy security and the environmental impacts of energy production.

Al Kaabi made the comments as Abu Dhabi’s Mubadala took part in hosting the World Energy Congress, which is being held in the Middle East for the first time in its 95-year history.

“The world is facing significant challenges as we try to balance the issues of energy security, universal access to affordable energy supplies and the environmental impacts of energy production and use,” Al Kaabi said. “The 24th World Energy Congress will take place at a time when we look for new ways to innovate and manage this ‘energy trilemma’ and all the challenges but also the opportunities the world faces.”

Discussing Mubadala’s place in Abu Dhabi and its current priorities, he added, “Mubadala is at the heart of Abu Dhabi’s global investment strategy, active not just in the energy sector but in many other areas including, very importantly, technology.  We look forward to participating in dialogue on the key developments that are impacting the energy landscape, from advances in our traditionally inventive and resourceful oil and gas businesses, to more broadly applicable innovation and disruption coming from digitalization, AI and automation.”

The host sponsors for the 24th World Energy Congress are the Abu Dhabi Department of Energy, Abu Dhabi National Oil Company (ADNOC), DEWA – Dubai Electricity and Water Authority, Emirates Nuclear Energy Corporation (ENEC) and Mubadala.