The demand for electricity in the UAE is increasing in the face of the transition towards artificial intelligence and technologies that rely on electricity, such as the growth of electric vehicles and the digital transformation in the industrial sector, according to Mavy Zengeni, the CEO of General Electric Vernova. Zengeni told the Union on the sidelines of the Adipec 2024 conference in Abu Dhabi that the global energy landscape is undergoing a fundamental transformation due to the increasing demand for electricity worldwide, with the International Energy Agency predicting a 4% increase in electricity consumption in 2024, the fastest rate since 2007, excluding periods of recovery after the global financial crisis and the COVID-19 pandemic. Zengeni emphasized that investing in gas power does not conflict with long-term carbon reduction goals, as the progress made in carbon capture technologies, direct air capture, and the use of hydrogen as a fuel can enable gas turbines to operate in low-carbon or even carbon-free configurations. She noted that more than 120 gas turbines produced by General Electric Vernova have logged over 8.5 million operating hours using fuel with hydrogen content ranging from 5% (by volume) to 100%, highlighting that as these technologies mature and green hydrogen becomes competitive, gas can contribute to a more sustainable energy mix. Despite some concerns that the convergence of rising demand and increased focus on energy security may slow down the transition in the energy sector, Zengeni sees a more optimistic outlook, as the strong growth in energy demand presents an unprecedented opportunity. She added that the rapid developments have revealed that the best innovations are those that have not yet been invented, but the reality is that we already have the necessary technologies to meet the demand for energy and continue our path towards reducing carbon emissions from the system at the same time. Zengeni emphasized that the transition from coal to natural gas can help reduce carbon dioxide emissions by more than 60%, in addition to providing the ability to generate power that is suitable for distribution and expansion, including data centers. She stressed that gas-powered energy will remain necessary as a stabilizing and supporting factor for renewable energy, as it provides the reliability and flexibility needed to ensure the stability of grids that increasingly rely on intermittent renewable energy sources. Zengeni also highlighted the importance of nuclear energy, noting that the role of nuclear energy, especially small modular reactors, is gaining momentum as a clean and carbon-free source of energy. She mentioned that last year, during the COP28 conference hosted by the UAE, 22 world leaders committed to tripling nuclear power by 2050, and small modular reactors are expected to play a key role in achieving this goal, providing reliable and carbon-free electricity to complement variable renewable energy sources. Zengeni concluded by emphasizing the need for a comprehensive strategy to continue progress on both fronts, providing the world with electricity and eliminating carbon, and that the strong growth in energy demand also provides excellent conditions for investing in future scientific achievements, such as small modular reactors, carbon capture technologies, or low-carbon fuels.
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