Abu Dhabi Sustainability Week
Abu Dhabi Sustainability Week (ADSW) opens its doors to host some of the most important organizations active in the field of energy and climate. In doing so, at the beginning of the year, a timeslot traditionally reserved for the World Economic Forum in Davos, it sends a clear message that the poles of global influence are changing. Leading the conversation on the core aspects of energy - security, affordability, protection of the environment and climate justice - organizations such as IRENA, the Atlantic Council and the Arctic Circle Forum are all holding their summits at ADSW.
Together with hosting the United Nation's COP 28 Climate Change Conference in Dubai at the end of 2023, gathering such significant decision-makers for this massive series of events at ADSW, the United Arab Emirates is putting on a show of force, reflecting its important capabilities to become a major player influencing policy and diplomacy in an increasingly fraught global context.
A New Era For UK-Japan Relations
(source: The Guardian)
Energy as Catalyst
The new gas discoveries bring important investment opportunities to the region and the potential for nations to come together in the Eastern Mediterranean.
Consumption of liquefied natural gas (LNG) all over the world has been on an upward trend for several years and the surge in supply is expected to only increase in the future (by 45 percent between 2015 and 2021). New LNG projects are expected to add 175 billion cubic meters (bcm) to the market by 2020, coming mainly (90 percent of it) from Australia and the United States, an increase based on investment decisions taken before the gas price plunge. Increased supply can only bring the prices further down and the major exporters can only look towards smaller profits, as a significant cost would have to be added for liquefaction, transportation, and regasification.
The AfCFTA WEF agreement is a trade deal that was signed in Davos, Switzerland, in January 2023, between the African Continental Free Trade Area (AfCFTA) and the World Economic Forum (WEF). The agreement aims to boost trade and investment between Africa and the rest of the world, as well as support the continent's economic recovery and development after the COVID-19 pandemic.
The agreement includes a commitment to support Africa's energy transition and policy aiming to achieve climate justice, by providing financial and technical assistance, facilitating technology transfer and innovation, and promoting regional integration and cooperation. The agreement also recognizes the importance of involving the private sector, civil society and youth in the process, as well as ensuring gender equality and social inclusion.
As a small landlocked country in Eastern Europe, Moldova faces many challenges in its energy sector, caused by its low energy self-sufficiency and its reliance on imports for most of its energy demand. Around 80% of its energy consumption is met by imports, mainly from Russia and Ukraine. Moldova is especially dependent on natural gas from Russia, which accounts for about 40% of its primary energy supply, and that makes the country vulnerable to disruptions, price fluctuations, and political pressures from its main energy suppliers.
Moldova's energy situation has worsened in recent years. The COVID-19 pandemic has affected Moldova's economy and reduced its energy demand and revenues and the war in neighboring Ukraine has disrupted Moldova's electricity imports and increased security risks. The global energy crisis in late 2021 has caused a surge in energy prices and a shortage of natural gas supplies. These factors have increased Moldova's energy vulnerability and poverty, and threatened its energy security and stability.
However, the country has received social help for its energy needs from various sources. The European Union (EU) has been Moldova's main partner in supporting its energy sector reforms and integration with the European energy market. The EU has provided financial and technical assistance for improving its energy efficiency, diversifying its energy sources, and developing its renewable energy potential. The EU has also helped Moldova to build a gas interconnector with Romania, which will reduce its dependence on Russian gas and increase its energy options.
The agreement for the Black Sea Submarine Cable Project was signed in Bucharest on December 17th 2022, in the presence of the President of the European Commission, Ursula von der Leyen, the President of Romania, Klaus Iohannis, the President of Azerbaijan, Ilham Aliyev, the Prime Minister of Georgia Irakli Garibashvili and the Prime Minister of Hungary Viktor Orban.
The goal of this new cable construction is expected to boost European energy security and connectivity, in the wake of the invasion of Ukraine. The project is supported by the European Commission, which promised to provide funding and regulatory assistance. The project aims to diversify the energy sources and routes for Europe and enhance and cooperation in the region, as well as contribute to the green transition and climate goals of the European Union.
Abu Dhabi Sustainability Week (ADSW) opened its doors to host some of the most important organizations active in the field of energy and climate. In doing so, at the beginning of the year, a timeslot traditionally reserved for the World Economic Forum in Davos, it sends a clear message that the poles of global influence are changing. Leading the conversation on the core aspects of energy - security, affordability, protection of the environment and climate justice - organizations such as IRENA, the Atlantic Council and the Arctic Circle Forum are all holding their summits at ADSW.
Together with hosting the United Nation's COP 28 Climate Change Conference in Dubai at the end of 2023, gathering such significant decision-makers for this massive series of events at ADSW, the United Arab Emirates is putting on a show of force, reflecting its important capabilities to become a major player influencing policy and diplomacy in an increasingly fraught global context.
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