Shell has recently released its first progress report on energy transition, after the implementation of its Powering Progress strategy in 2021.

During the Capital Markets Day event in June 2023, Shell emphasized how its strategy is designed to generate more value while producing fewer emissions, with a particular emphasis on the “more value” aspect.

This energy transition update focuses on how the strategy effectively delivers “fewer emissions.”

Shell aims to achieve net-zero emissions across all operations and energy products by 2050, which marks a significant shift for the business.

The company is confident that this commitment aligns with the ambitious objectives of the Paris Agreement, which aims to limit global warming to 1.5°C above pre-industrial levels.

Shell’s approach advocates for a balanced and orderly transition from fossil fuels to low-carbon energy solutions, ensuring that energy remains secure and affordable.

According to Wael Sawan, Shell’s CEO, “Energy has significantly contributed to human progress, enabling many worldwide to lead more prosperous lives. Currently, the global community faces the dual challenge of meeting increased energy demands while addressing the pressing issue of climate change. The swift advancements in energy transition observed in recent years across various countries and technologies bolster my firm belief in our strategic direction.”

Sawan further remarked, “Our investment of $10-15bn between 2023 and 2025 in low-carbon energy solutions positions us as a major player in the energy transition.

“Moreover, in 2023, our expenditure on low-carbon solutions reached $5.6bn, accounting for over 23% of our total capital investment” He added.

Shell’s investments in emerging technologies, including electric vehicle charging infrastructure, biofuels, renewable energy, hydrogen, and carbon capture and storage, are instrumental in reducing emissions for both Shell and its customers.

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The company aims to scale these technologies to ensure they become an economical option for consumers.

Shell’s advocacy efforts are now focused on pivotal areas deemed essential for the energy transition, such as supporting policies that align with national net-zero goals, including carbon pricing, providing the secure energy supply the world requires, influencing demand shifts, and expanding low-carbon solutions.

In 2023, Shell surpassed 60% of its objective to cut emissions from its operations in half by 2030, relative to its 2016 levels.

This exceeds the commitments made by the signatories of the Oil and Gas Decarbonization Charter established at COP28.

Shell was among the pioneers in setting a goal for near-zero methane emissions by 2030.

In 2023, the company attained a methane emissions intensity of just 0.05%, well below its target of 0.2%. Additionally, Shell contributed to the World Bank’s Global Flaring and Methane Reduction Fund in 2023, further endorsing collective efforts to minimize methane emissions and flaring.

“In 2023, we met our objective to lower the net carbon intensity of the energy products we offer, achieving a 6.3% reduction from 2016 levels – marking the third year in a row we’ve reached our goal,” Sawan observed. “To further the decarbonization of the transport sector, we’ve set a new goal to reduce emissions from the use of our oil products by 15-20% by 2030, in comparison to 2021 divs.

He exclaimed that “We are expanding our power business, including renewable energy ventures, in regions such as Australia, Europe, India, and the USA, and have ceased direct energy supply to residential homes in Europe.”

More on vision2030:

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The UAE commits USD30 billion to Alterra, a climate investment fund launched at the United Nation’s climate change conference (COP28), making it the largest private investment fund for climate change.

Alterra’s primary objective is to concentrate on climate investments in emerging markets and developing economies, studies have revealed that there is an increasing funding shortfall in these regions.

The World Bank estimates that the escalating disparity to finance the climate transition is equivalent to the gap between the USD100 billion per annum committed by donor countries and the more than USD2.4 trillion required yearly by 2030.

Alterra’s plan involves two sections, the first one with USD25 billion pledged to invest to accelerate the transformation to a net-zero climate-resilient economy.

The second part, with funding of USD5 billion, is designed to mitigate risk to further incentivize investments into the global south.

Quotes:

Majid Al Suwaidi, CEO of Alterra and Director-General of cop28 in a panel discussion said, “The fund aims to amass and distribute USD250 billion globally by 2030”.

Al Suwaidi added: “The vision for Alterra was borne out of the COP28 Presidency’s Action Agenda focus on how we can make climate finance more available, accessible and affordable for all, and remove barriers impeding investment – especially into the Global South. Alterra is a key element in the COP28 Presidential Action Plan to help drive climate investment to the solutions and markets where it is most needed.”

During the panel session, the following individuals participated: Dr. Mahmoud Mohieldin, Executive Director at the International Monetary Fund; Rajiv Dhar, Board Member of the National Infrastructure Investment Fund and Head of US India Green Fund; Arvind Ramamurthy, Chief Market Development Officer at Abu Dhabi Global Market (ADGM); and Samir Suleymanov, Director of Finance at COP28.

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EDGNEX, a company owned by DAMAC in Dubai, is working with Vodafone to build a data center in Izmir, Turkey.

The company announced in a press statement that:

• They plan to allocate USD100 million to the data center with a capacity of 6 megawatts (5 megawatts is enough to support 2,000 servers).
• The project is estimated to be completed by the year 2025.

Quotes about the data center in Turkey:

Aqil Ali, Vice President of EDGNEX, DAMAC said that The Eastern Mediterranean region has a high demand for data centers, making Izmir, one of the largest and oldest cities in Turkey, an ideal location to meet this need,”

Engin Aksoy, CEO of Vodafone Turkey, said the partnership aims to develop data center facilities in Turkey and international markets.

He added that the company plans to grow exponentially with investments in data centers, cloud solutions, cyber security, mobile private networks, and IoT over the next five years.

He also stated “We believe that Turkey should take part in this rising economy. It remains crucial to invest in reliable and high-capacity data centers for cloud computing,”

The statement said the data center will employ the most recent tech and adhere to Tier 3 requirements, promising a 99.982 percent uptime, total redundant Ness, and fault tolerance.

The planned data center will act as a bridge connecting the Middle Eastern region to Europe through cross-ocean and terrestrial cables.

EDGNEX is a company established by the Dubai-based DAMAC Group, it is a multi-tenant data center provider supporting hyperscale wholesale and retail colocation across the Middle East and Europe.

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Dubai International Boat Show 2024:

The event focuses on showcasing and displaying boats to encourage sales of marine shipyards.

Marking this as the event’s 30^th year, it will feature over 200 boats and 1,000 brands from the global market.

Lastly, the event will showcase environmental-friendly projects including the Dubai Reef Project.

• Location: Dubai Harbor
• Active date: February 28^th to March 3^rd

World Police Summit 2024:

Hosted by Dubai Police, the World Police Summit brings together various leading global police such as the FBI and Interpol.

The event will feature seven major conferences with 140 sessions focusing on current challenges and priorities with key speakers from the UAE such as Major General Ahmed Al Mheiri and his Excellency Nasser Ismail.

• Location: Dubai World Trade Center
• Active date: March 5^th to 7^th

Dubai International Wood and Machinery Show:

The event will display the growth of the furniture and construction market in the Middle East.

Aiming to connect suppliers and manufacturers with businesses, the only event made specifically for B2B in the wood industry.

• Location: Dubai World Trade Center
• Date: March 5^th to 7^th

Dubai Entertainment, Amusement and Leisure Exhibition:

The event has been shaping the entertainment business in the Middle East for 30 years, in 2024 (DEAL) will host people from all around the world including the USA, Africa, Asia and the Mediterranean.

Visitors can try out Leisure experiences such as Virtual Reality, 9D Park rides, 12D cinemas and arcades.

• Location: Dubai World Trade Center:
• Date: March 5^th to 7^th

Global Women Leaders Conference:

Returning for its 26^th year, the event is organized by Datamatrix with other global partners, it aims to encourage emerging female figures and instill leadership skills.

The event is planned in a way to coincide with the international women’s day.

• Location: Sheraton Grand Hotel
• Date: March 6^th to 8^th 

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Smart hotelStation bottling solution contributes to eliminating single-use plastic water bottles in the hospitality industry, it first launched and started operations at a 362-room hotel in central Jakarta, Indonesia.

The innovation enables hotels to serve clean, purified, rich-in-minerals glass bottled water using a high-performance PRO water purifier, hygienic filling, and clear labeling. By removing up to 99.7% of known water contaminants including viruses, bacteria, micro, and nanoparticles, Bluewater changes the formula and offers a clean water delivery system while also reducing the amount of carbon waste.

Bluewater is promoting clean water packaging and serving by its ability to supply 17 hotels offering 4,000 guest rooms, reducing the number of plastic bottles needed in the hospitality industry and giving an alternative to conventional water bottle packaging.

A global public opinion survey by GlobeScan revealed that 58% of almost 30,000 people polled in 31 countries, including Indonesia, Vietnam, and China, viewed freshwater shortages as a ‘very serious’ problem.

Bluewater founder and CEO, Bengt Rittri, revealed that hotels use over 5 million plastic bottles daily and that Bluewater is dedicated to meeting the needs of the current market while also noting that this specific industry has been a major contributor to plastic bottle waste, and access to safe and clean drinking water assists both the consumers and businesses.

Mr. Rittri also explained that when they launched Bluewater, they decided to create a planetary plan in place of a traditional business to emphasize the desire to combat carbon waste and climate change.

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“Sweden has in the last decades cemented itself as an innovation powerhouse of not only Europe but also the world, giving rise to industry-leading companies through Swedish ingenuity. However, until now, there has never been a tech event in Sweden that has matched this incredible output of innovation and world-class entrepreneurship. We are very excited to welcome the global tech community to Sweden, says Omid Ekhlasi, CEO of Techarenan.

Sweden is currently ranked as the second most innovative country in the world and one of the top producers of unicorns per capita. The country’s role as a leading innovation nation and a role model for an impact-focused industrial and business sector has garnered global curiosity. This context creates the perfect foundation to introduce an international tech event focused on how the industrial sector together with the tech – and business community can cooperate to boost the economy, accelerate new sustainable ideas, and implement innovative solutions to drive positive change.

“A dynamic environment for research and innovation is key to Sweden’s continued success in international markets. The Government will launch a new strategy for foreign trade, investments, and global competitiveness later this year, with a focus on innovation and research cooperation, among other things. The Tech Arena will offer an excellent forum for increased cooperation and new partnerships, and I look forward to participating,” says Johan Forssell, Sweden’s Minister for International Development Cooperation and Foreign Trade

Behind this event stands Techarenan, backed by government bodies such as the Swedish Innovation Agency, the official business agency for the host city; Stockholm Business Region, alongside Nordic and international corporations and organizations.

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Tengizchevroil, a pioneer in the energy industry, has embarked on an ambitious mission to enhance wellhead control and ensure the highest levels of safety and efficiency at its Tengiz Site. As a vital component of this mission, HIMA and NAO-Energy LLP will deploy 11 Wellhead Control Panel (WHCP) solutions, each comprised of innovative components. These include HIMA’s advanced safety automation technology, Rockwell’s Allen-Bradley equipment, and Hydro-Pneumatic Systems. These systems will be seamlessly integrated within Remote Instrument Enclosure Shelters.

The collaboration between HIMA and NAO-Energy LLP will promote innovation, safety and efficiency at the Tengizchevroil’s Tengiz Site. It will also establish new benchmarks for wellhead control solutions in the energy industry. In addition, this partnership will have a substantial impact on local content efforts, safety, and oil production at the Tengiz Site.

Commenting on the collaboration, Andrew Dennant, General Manager and Vice President at HIMA, stated: “We are pleased to collaborate with NAO-Energy LLP, a provider of engineering, procurement, and construction (EPC) services in Kazakhstan. This collaboration demonstrates our dedication to providing cutting-edge safety solutions that will

have a significant impact on the efficiency of our clients in the energy industry. We are proud to be assisting NAO-Energy LLP in furthering Tengizchevroil’s goals in Kazakhstan.”

By bringing together the strengths and extensive expertise of two industry leaders, this partnership will ensure the successful completion of this large-scale project. The companies will work together to implement value-added solutions that deliver excellence in efficiency and put safety first, which perfectly aligns with Tengizchevroil’s commitment to the highest industry standards.

Baurzhan Karimov, CEO of NAO-Energy LPP said: “We are proud to work with HIMA on this significant project, which demonstrates our commitment to assisting in the expansion and development of Kazakhstan’s energy industry. This strategic collaboration will yield numerous exceptional outcomes that will benefit all the stakeholders involved. We look forward to a fruitful partnership that advances our goals in safety, production, and local content at Tengiz site.”

NAO-Energy LLP is a distinguished engineering, procurement, and construction (EPC) services provider in Kazakhstan. Leveraging its substantial background in these domains within the Kazakhstani context, the company plays a pivotal role in bolstering Tengizchevroil’s efforts to enhance local participation. Simultaneously, HIMA, recognized for its track record in delivering state-of-the-art safety automation solutions that ensure the protection of individuals, assets, and the environment, will collaborate with NAO-Energy LLP by sharing its advanced technology and expertise for this important project.

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