Industry leaders to discuss impact of increased gas production on the development of renewable energy
The impact of U.S. shale gas production on the deployment of renewables, especially in light of the recent, dramatic decline of oil prices, will be addressed by Marie-José Nadeau, chair of the World Energy Council, at this month’s World Future Energy Summit (WFES), the Middle East’s largest gathering of international leaders to drive viable solutions to address the world’s pressing energy challenges.
Hosted by Masdar, Abu Dhabi’s renewable energy company, WFES is part of Abu Dhabi Sustainability Week (ADSW), January 17-24, a yearly platform that addresses the interconnected challenges of energy and water security, climate risk and sustainable development. Since its establishment, ADSW has helped reinforce Abu Dhabi’s position as an international energy hub – a true energy leader, promoting new and traditional sources of power.
The discussion of shale gas and renewables is timely given a recent Citigroup’s Research Equities division report stressing that gas and renewables can complement each other within a diversified energy mix. As solar and wind energy are “intermittent” power sources, they rely upon backup from “peaking” plants usually fueled by natural gas.
Similarly, the Abu Dhabi-based International Renewable Energy Agency (IRENA) reported last year that increased gas use complements the growth of renewable energy adoption because it would replace dirtier fossil fuels, such as coal. IRENA believes that a “hybrid” system could emerge where more gas is used to complement solar and wind power.
Securing a greater share of renewables in the global energy mix underscores the importance of WFES, which provides a proactive forum for participants to engage both with key stakeholders and the very latest ideas on clean energy. Now into its eighth year, WFES has placed energy diversification at the top of the sustainability agenda.
In addition to WFES, which is sponsored by ADNOC and Emirates Global Aluminum, ADSW will feature the third International Water Summit, the second edition of EcoWASTE, and the seventh Zayed Future Energy Prize Award Ceremony; it coincides with the Fifth General Assembly of the International Renewable Energy Agency.