ADIPEC 2024: uniting industries to accelerate sustainable socioeconomic progress

Marking 40 years of energy leadership, ADIPEC 2024, held in Abu Dhabi from November 4-7, cemented its position as one of the world’s most influential and impactful energy events, catapulting the energy industry into a new era of innovation and collaboration. Held under the theme of ‘Connecting Minds. Transforming Energy’, this year’s event broke multiple records and united sectors in an unprecedented push to accelerate energy transformation and drive sustainable socioeconomic growth.

Record-breaking attendance and deals

ADIPEC 2024 drew a record-breaking 205,139 attendees from 172 countries, highlighting the UAE’s convening power and its role as a global hub for energy, technology and innovation. The event delivered more than US$10 billion in cross-sector deals, making it the most commercially successful edition to date and reflecting its crucial role in driving growth throughout the industry.

The ADIPEC Exhibition, across 16 halls, saw more than 2,250 exhibitors converge to develop the partnerships and strategies that will drive transformational change across the global energy ecosystem. Notable deals included ADNOC Drilling's acquisition of a 95% stake in Deep Well Services for $223 million, TA'ZIZ's award of over $2 billion for essential infrastructure at Al Ruwais Industrial City, and BGP Inc.'s new contract with ADNOC - worth $490 million - to expand the world's largest 3D seismic survey in Abu Dhabi.

The ADIPEC Conferences featured four new conferences and 370-plus expert led sessions, which hosted leading figures from the energy, technology and finance sectors, as well as influential voices from the Global South and youth. This expansion reflected the event’s ever-widening focus on the breadth of opportunities and challenges emerging as the industry strives to accelerate the energy transition.

Innovation and AI: catalysts for transformation

On the eve of ADIPEC, the ENACT Majlis set the stage for the underlying theme of this year’s event: the transformative potential of AI in the energy industry. Hosted by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, the majlis brought together 80 global business leaders to explore how AI can fast-track the energy transition and unlock new avenues for progress and prosperity.

Building on the high-level discussions at the ENACT Majlis, H.E. Dr. Al Jaber delivered a compelling vision for the future of energy on the first day of ADIPEC 2024, calling on industry leaders to embrace and support era-defining breakthroughs:

“We stand at the dawn of a new era of hope and possibility, defined by three megatrends: first, the rise of the global south and emerging markets. Second, the transformation of energy systems, and third, the exponential growth of Artificial Intelligence.”  

To harness these megatrends, H.E. Dr. Sultan Al Jaber highlighted the need for unprecedented cross-sectoral integration, targeted investments, enhanced energy infrastructure, and enabling policies and regulations, believing this approach can drive the next phase of sustainable socioeconomic growth.

ADIPEC’s spotlight on innovation was evident throughout the event’s 10 conferences, as well as the inaugural AI Zone, where tech giants and energy majors presented their latest AI solutions aimed at accelerating decarbonisation. The space also played host to the dedicated AI Conference, where leaders from the energy, technology, and government sectors worked together to develop a strategic roadmap for integrating AI into the energy landscape.

Driving collaboration for an effective transition

Enabling collaboration across industries and borders remained a top priority at ADIPEC 2024, as the event gathered more than 1,800 distinguished speakers, including over 40 international ministers, to discuss the public sector policies and private sector strategies that can generate investment and secure tangible climate progress.

ADIPEC's diversity of speakers showcased that the challenges and opportunities of the energy transition extend far beyond traditional industry boundaries and geographic borders.

The event’s ministerial sessions, which featured representatives from Egypt, India, the UAE and beyond, offered a unique platform for key government leaders to address pressing energy priorities and embrace the transformational solutions, such as artificial intelligence, that will empower lives around the world.

In addition, executives from leading energy, finance, and technology firms, including bp, Petronas, Microsoft and JP Morgan, came together to discuss the difficulties of balancing business priorities and rising energy consumption with the realities of climate change.

Tayba Al Hashemi, Chair of ADIPEC 2024 and CEO of ADNOC Offshore, noted:

“The record-breaking 40th edition of ADIPEC has successfully convened the leading minds across multiple industries and geographies to drive value creation opportunities and innovative solutions to shape a more sustainable energy future.”  

Addressing finance and investment challenges

Accelerating investment in new energy projects was a central driver of collaboration and deliberation at ADIPEC 2024. The inaugural Finance & Investment Conference highlighted the critical challenges facing the global energy transition, particularly the funding disparities between developed and developing countries.

Julian Mylchreest, Executive Vice Chairman, Bank of America, talked about the need to advance activity in the corporate finance space, stating:

“If we continue to focus solely on project finance, we won’t be able to scale effectively. We can easily scale if we leverage large balance sheets. The way forward involves establishing the right partnerships for our projects. If the framework is in place, there is a vast amount of capital available. It’s about identifying the right projects with the right sponsors. My advice for governments is to seek out the gaps; if you have a limited amount of money, find where it can be most effectively invested.”  

The conference brought together multilateral stakeholders from the Global North and South, including top investors, policymakers, and energy executives, to explore sustainable and innovative finance structures critical for a pragmatic and inclusive energy future. The conversations revealed persistent obstacles, such as high borrowing costs, investment risks, lack of creditworthy off-takers, and regulatory uncertainty in developing economies.

Wael Sawan, CEO of Shell, highlighted the importance of strategic capital allocation in this context:

“We fundamentally believe that the world needs much more energy, and specifically more diversified forms of energy. As a company, we must be very clear about where we can invest our capital. Decarbonising our existing assets is the first step, and the next step in this process is changing our operations.”  

Bridging the Global North-South divide

Finance oriented sessions naturally led to a focus on bridging the finance gap between the Global North and South. ADIPEC 2024 emphasised the importance of addressing energy transition challenges specific to emerging economies, as speakers across the conference explored new pathways to resolving historic disparities in terms of energy access, investment and technological capabilities.

His Excellency Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Infrastructure, United Arab Emirates, articulated the UAE's commitment to supporting nascent markets:

“Our leaders in the UAE have always thought of the future, and we are committed to investing in more energy resources to ensure adequate supply. We are privileged to have leadership that cares about investment in energy, and our commitment to renewables, nuclear and conventional energy will continue.”  

The importance of a just and equitable energy transition, which supports economic growth while delivering climate progress, was a clear point of emphasis for many participants at ADIPEC 2024, as dedicated conferences and sessions fostered inclusive discussions about the future of the global energy system.

His Excellency Shri Hardeep S Puri, Hon'ble Minister of Petroleum and Natural Gas from India, stated:

“When we talk about the Global South, we sometimes forget where the Global South is and what issues they have to face. In order for us to make the transition, we have to leverage the tools currently at our disposal and invest in the future.”  

ADIPEC’s new Voices of Tomorrow conference embodied this commitment to diversity and inclusivity in the energy transition process, as energy leaders from various geographies, generations and sectors identified collective and disruptive strategies that can facilitate the global shift towards sustainable energy.

Hydrogen: a critical component of the energy transition

As discussions on an inclusive energy transition progressed, ADIPEC 2024 showcased the promising solutions and alternative resources that could play a crucial role in accelerating decarbonisation and sustainable growth.

ADIPEC’s Hydrogen Conference brought together key stakeholders from across this emerging sector to explore critical challenges and opportunities in hydrogen development. The conference focused on advancing conversations between project developers, industry executives, and policymakers to move beyond proof of concept and towards widespread adoption of low-carbon hydrogen solutions.

Speakers, such as Dr. David Burns, VP Clean Energy, Linde, lauded industry progress, but recognised critical technological and scalability obstacles:

“We can take on large-scale blue hydrogen projects, but we need viable, long-term offtake commitments. This is the old business model in a new ecosystem. In the US, there are a lot of incentives to produce hydrogen but not to use it. The debate is not between blue and green, but rather what is the lowest carbon intensity we can achieve for the cost. The lowest carbon-intensive hydrogen is the stepping stone to green.”  

Looking ahead: ADIPEC 2025

As ADIPEC 2024 concluded, the energy industry stood united in its commitment to innovation and sustainability. His Excellency Eng. Karim Badawi, Minister of Petroleum & Mineral Resources, Arab Republic of Egypt, captured the event's enduring impact:

“I would like to take this opportunity to congratulate ADIPEC, where, for the last four decades, they have been building bridges to foster best practices and creating a platform to come together collaboratively for a positive future.”  

Building on the success and insights of this year's event, ADIPEC 2025 has been scheduled to take place from November 3-6, 2025, in Abu Dhabi. The conference is set to expand its focus on innovation and collaboration, marking another step in ADIPEC’s 40-year mission to ignite transformative thinking and foster prosperous partnerships that can shape a brighter and more sustainable energy future for all.