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Gulf Today
2 days ago
- Business
- Gulf Today
UAE, US enjoying a ‘powerhouse partnership', says Sultan Al Jaber
Dr. Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, and Executive Chairman of XRG, called for energy, technology, finance and policy sectors to work in sync to meet the once-in-a-generation investment opportunity of artificial intelligence (AI). Delivering a keynote address in Washington DC at the ninth edition of the Atlantic Council Global Energy Forum to an audience of policymakers and industry leaders, Dr. Al Jaber described AI as the next stage of human evolution and emphasised that meeting its demands will require an equally transformative shift in energy policy, investment and infrastructure. 'The race for AI supremacy is not just about code-it's about gigawatts,' he said. 'Every AI breakthrough consumes more power. And right now, global energy systems are not ready.' He noted that the US alone may require 50-150 gigawatts of new capacity by 2030, dependent on the energy source - equivalent to the total consumption of dozens of major cities. To meet that challenge, Dr. Al Jaber outlined a system-wide roadmap-developed in partnership with XRG, MGX and the Atlantic Council-calling for fast-tracked permitting, modernised grids, and strategic investment in gas, nuclear, and renewables. 'You can't run tomorrow's technology on yesterday's grid,' he said. 'Permitting delays and supply chain bottlenecks are now threats to progress. Policy must help, not hold back.' Dr Al Jaber highlighted that the size of the opportunity is huge and the key to unlocking it is partnership. He explained that this is why the UAE and the US are enjoying a 'powerhouse partnership' across every sector. 'For us, the United States is not just a partner-it's an investment imperative,' Dr. Al Jaber added. 'US companies are among the UAE's largest concession partners, active from upstream to downstream. Currently, the UAE energy sector works with US companies across 18 states and 50 facilities, from gas to chemicals to energy infrastructure and energy solutions.' 'XRG is an anchor partner in the largest LNG facility in Texas. We produce specialty chemicals across the country. And our renewable energy company, Masdar, has developed 5.5GW of operational capacity from coast-to-coast. And we are just getting started. To help harness that ambition, we opened a joint XRG/Masdar office right here in Washington DC.' He highlighted that a single new data centre can consume as much electricity as a city the size of Pittsburgh. 'Meeting this demand is not just a technical challenge - it is a once-in-a-generation investment opportunity. One that requires a system-wide shift, with energy, technology, finance and policy operating in sync,' he said. Dr. Al Jaber argued that 'in the age of hyperscalers, we must hyperscale energy,' calling for reliable baseload sources such as gas and nuclear, backed by renewables, energy storage, and emerging solutions like small modular reactors (SMRs) and fusion. He also advocated for a 'pragmatic pause' on early retirements of existing power plants while expanding nuclear capacity.
Al Etihad
2 days ago
- Business
- Al Etihad
Sultan Al Jaber participates in Atlantic Council Global Energy Forum in Washington
18 June 2025 13:04 WASHINGTON (WAM)Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, and Executive Chairman of XRG, on Wednesday called for the energy, technology, finance, and policy sectors to work in sync to meet the once-in-a-generation investment opportunity of artificial intelligence (AI).Delivering a keynote address in Washington DC at the ninth edition of the Atlantic Council Global Energy Forum to an audience of policymakers and industry leaders, Dr. Al Jaber described AI as the next stage of human evolution—and emphasised that meeting its demands will require an equally transformative shift in energy policy, investment, and infrastructure.'The race for AI supremacy is not just about code—it's about gigawatts,' he said.'Every AI breakthrough consumes more power. And right now, global energy systems are not ready.' He noted that the US alone may require 50–150 gigawatts of new capacity by 2030, dependent on the energy source, equivalent to the total consumption of dozens of major meet that challenge, Dr. Al Jaber outlined a system-wide roadmap—developed in partnership with XRG, MGX, and the Atlantic Council—calling for fast-tracked permitting, modernised grids, and strategic investment in gas, nuclear, and renewables.'You can't run tomorrow's technology on yesterday's grid,' he said.'Permitting delays and supply chain bottlenecks are now threats to progress. Policy must help, not hold back.'Dr. Al Jaber highlighted that the size of the opportunity is huge and the key to unlocking it is partnership. He explained that this is why the UAE and the US are enjoying a 'powerhouse partnership' across every sector.'For us, the United States is not just a partner—it's an investment imperative,' Dr. Al Jaber added.'US companies are among the UAE's largest concession partners, active from upstream to downstream. Currently, the UAE energy sector works with US companies across 18 states and 50 facilities, from gas to chemicals to energy infrastructure and energy solutions.''XRG is an anchor partner in the largest LNG facility in Texas. We produce speciality chemicals across the country. And our renewable energy company, Masdar, has developed 5.5GW of operational capacity from coast-to-coast. And we are just getting started. To help harness that ambition, we opened a joint XRG/Masdar office right here in Washington DC.'He highlighted that a single new data centre can consume as much electricity as a city the size of Pittsburgh.'Meeting this demand is not just a technical challenge – it is a once-in-a-generation investment opportunity. One that requires a system-wide shift, with energy, technology, finance, and policy operating in sync,' he Al Jaber argued that 'in the age of hyperscalers, we must hyperscale energy,' calling for reliable baseload sources such as gas and nuclear, backed by renewables, energy storage, and emerging solutions like small modular reactors (SMRs) and fusion. He also advocated for a 'pragmatic pause' on early retirements of existing power plants while expanding nuclear emphasised that modernising power delivery is equally urgent. 'Wait times for key components like transformers can exceed three years. That's not just a supply chain problem – it's a bottleneck to industrial growth. Unlocking this opportunity requires permitting reform, workforce development and de-risked capital.'He noted that, 'the tech sector runs on quarterly horizons; the power sector runs on decade-long timelines. We must bridge that divide. We must de-risk major capital investments, and policy must help, not hold-up progress. Currently, there are 2600GW of planned capacity around the world waiting for a connection. We must take that gridlock out of the grid.'Explaining that power generation 'is just one half of the equation' and 'delivering that power to the end user is the other, more complex half,' he called for efforts to train one million new electricians for the 21st century grid and unleashing AI's own potential to help manage energy systems more the situation in the Middle East, and its impact on regional and energy security, Dr. Al Jaber emphasised that the UAE will always stand for dialogue, de-escalation and diplomacy in resolving disputes and called on all parties to show restraint, respect the sovereignty of states and adhere to international law.'Concluding his remarks, Dr. Al Jaber called for greater collaboration to fully harness the power of AI and unlock significant economic opportunities.'To realise the full power of AI, we must give it the power it needs. That starts with a coordinated roadmap applied locally and scaled globally. We need policy that clears the path, infrastructure that carries the load, and investment that meets the moment.''AI and energy are the twin engines of progress. Two engines. One direction. Fast-forward into the future.'Dr. Al Jaber was speaking a day after convening the second ENACT Forum in Washington DC The Majlis-style meeting brought together leaders from energy, technology, finance, and government to advance a cross-sector action agenda for meeting AI-driven power demand, accelerating infrastructure investment, and delivering the system-wide solutions needed at speed and on these discussions, a new roadmap for cross-sector action was published today titled "Powering the Next Great Leap in Human Progress." It sets out the opportunities and integrated solutions required both to address the immediate energy surge from rapid AI-driven data centre growth, and to guide longer-term investments that will build a smarter, more resilient, and more efficient energy report highlights practical approaches across the full energy value chain, investment and policy opportunities, many of which are themselves AI enabled. It includes optimising existing generation capacity, modernising and expanding grid infrastructure, incentivising demand management, strategically siting new data centres and accelerating next-generation technologies. The framework emphasises the need for bold, system-wide action to ensure that the full transformative potential of AI can be fully realised.
Business Recorder
3 days ago
- Business
- Business Recorder
UAE's ADNOC boosts US investments, says AI once-in-a generation investment opportunity
WASHINGTON: ADNOC chief Sultan al-Jaber said on Tuesday the state oil company of the United Arab Emirates was looking to grow its U.S. energy investments six-fold to $440 billion in the next 10 years. 'For us, the United States is not just a priority; it is an investment imperative,' Jaber told an audience at a Washington event, adding that AI represented a once-in-a-generation investment opportunity. Jaber pointed to the UAE's recent anchor investment in the largest liquefied natural gas plant in Texas, investments in petrochemical plants across the U.S. and a planned addition of 5.5 gigawatts of renewable energy and storage 'from coast to coast.' He also said that UAE renewable energy firm Masdar and investment arm XRG have just opened an office in Washington, and called investment in the U.S. an 'investment imperative.' Last month, during President Donald Trump's visit to Abu Dhabi, the U.S. and the wealthy Gulf state unveiled a massive artificial intelligence campus project set to contain a cluster of powerful data centers. Pakistani energy consortium signs key agreement with ADNOC In March, when senior UAE officials met Trump, the UAE had committed to a 10-year, $1.4 trillion investment framework in the U.S. in sectors including energy, AI and manufacturing to deepen reciprocal ties. Jaber said at the Washington event that the two countries should work toward a 'coordinated roadmap' to ramp up AI development. Mariam Almheiri, chair of the UAE international affairs office and CEO of 2PointZero, a UAE investment platform, said partnership with the U.S. across the AI supply chain is essential. 'The whole idea is scale, and it's so important to understand that time is not on our side,' she said at the event.
Zawya
3 days ago
- Business
- Zawya
Korea's Exim Bank to provide $225mln to fund Saudi's Sadawi solar PV project: Report
The Export-Import Bank of Korea will provide $225 million in project financing for the 2 gigawatt (GW) Sadawi solar photovoltaic (PV) Independent Power Producer (IPP) project in Saudi Arabia, according to a news report. The project is being developed by a consortium led by the UAE's Masdar in the Sadawi region, 523 km north of Riyadh. State-run Korea Electric Power Corporation (KEPCO) and China's GD Power are members of the consortium, the Korean Herald newspaper reported. The plant, which spans an area of 39.6 sq km, will feature nearly 3.7 million solar modules, and is expected to generate 6,500 gigawatt-hours (GWh) of energy per year, the report said. Upon its completion in 2027, the power will be purchased entirely by the state-owned Saudi Power Procurement Company (SPPC) for 25 years. The Sadawi project is the largest overseas solar power project undertaken by a Korean company. In July 2024, the state-owned firm provided $150 million for the Al Ajban solar power project in the UAE, which was secured by a consortium comprising Korea Western Power Company and France's EDF Renewables. (Reporting by P Deol; Editing by Anoop Menon) (
Economy ME
3 days ago
- Business
- Economy ME
AI is a once-in-a-generation investment opportunity, says ADNOC CEO as company grows U.S. investments
ADNOC aims to grow its U.S. energy investments six-fold to $440 billion in the next 10 years, said Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology & UAE Special Envoy for Climate, Group MD & CEO of ADNOC, and Chairman of Masdar. 'For us, the United States is not just a priority, it is an investment imperative,' Jaber said in a Washington event, adding that AI represented a once-in-a-generation investment opportunity. Jaber spotlights key UAE investment in U.S. energy During his participation, Jaber also highlighted the UAE's recent anchor investment in the largest liquefied natural gas plant in Texas, investments in petrochemical plants across the U.S., and a planned addition of 5.5 gigawatts of renewable energy and storage 'from coast to coast.' He also said that UAE renewable energy firm Masdar has just opened an office in Washington, and called investment in the United States an 'investment imperative.' Last month, the ADNOC CEO confirmed that the UAE plans to increase its energy investments in the U.S. to $440 billion by 2035. Al Jaber announced the strategy during a presentation to U.S. President Donald Trump, which took place during his recent visit to the UAE. The value of UAE investments in the U.S. energy sector will be boosted to $440 billion by 2035 from $70 billion now, Al Jaber told Trump, adding that U.S. energy firms will also invest in the UAE. 'Our partners have committed new investments worth $60 billion in upstream oil and gas, as well as new and unconventional opportunities,' Al Jaber said. Read: UAE to raise U.S. energy investments to $440 billion by 2035, says Al Jaber Key deals driving UAE energy investments in U.S. XRG, the international investment arm of ADNOC, is seeking to make a significant investment in U.S. natural gas, Al Jaber said. Notably, ADNOC's stakes in NextDecade's Rio Grande LNG export facility and a planned ExxonMobil hydrogen plant were transferred to XRG, which was launched last year with $80 billion in assets. The company also has a mandate to pursue global deals in chemicals, natural gas and renewables. As part of the $200 billion UAE investment announcement, ExxonMobil, Occidental Petroleum and EOG Resources are partnering with the UAE's Abu Dhabi National Oil Company (ADNOC) for expanded oil and natural gas production valued at $60 billion that will help lower energy costs and create hundreds of skilled jobs in both countries. During Trump's visit to the UAE, Holtec International and IHC Industrial Holding Company (IHC) also entered into a cooperation to build a fleet of Holtec's SMR-300 small modular reactors, starting at the Palisades site in Michigan. This agreement includes a commitment of $10 billion, and an additional $20 billion for fleet projects, helping to revitalize American nuclear energy infrastructure, strengthen domestic energy security, and create high-skilled jobs in engineering, construction and advanced manufacturing across the United States.
