The problem of the ever-growing demand for power must be addressed if the world is not to risk descending into “energy turmoil” as it transitions towards clean energy, according to the president of last year’s COP28 summit.
In a discussion hosted by the International Energy Agency, Sultan Al Jaber warned governments that they must be “honest and transparent” about the potential costs of transition, and the trade-offs involved in transforming energy supplies.
Al Jaber said: “The energy transition will lead to energy turmoil … if we only address the supply side of the energy equation.
“We must be balanced, we must tackle the demand side … We cannot and should not pursue the energy transition by only looking and working on one side of the equation.”
Al Jaber is the chief executive of the Abu Dhabi National Oil Company (ADNOC), which is planning a $150bn investment (£120m) in oil and gas over seven years. Al Jaber previously said this investment was to meet continuing demand for oil and gas.