Mubadala to highlight its approach to energy investment at 24th World Energy Congress
Mubadala to be one of the host sponsors of the congress taking place in Abu Dhabi in 2019.
The UAE Organising Committee of the 24th World Energy Congress has announced that the Mubadala Investment Company will be a host sponsor for the 2019 Congress, taking place in Abu Dhabi from September 9-12th 2019.
Held every three years in select international cities, the World Energy Congress is the world’s largest, longest-running and most influential energy gathering. The 24th edition will take place at the Abu Dhabi National Exhibition Centre. This will mark the first time the congress has been hosted in a Middle Eastern city, and by an Organisation of the Petroleum Exporting Countries (OPEC) member country, in the event’s 94-year history.
The World Energy Congress covers the entire energy spectrum, from oil and gas to renewables and nuclear as well as power, providing a forum for the industry’s largest and most diverse conversation.
Mubadala manages a diverse global energy portfolio with interests spanning the petroleum value chain, from exploration and production, through refining and petrochemicals. Through the technology and operations experience of its asset companies, Mubadala is working alongside the Abu Dhabi National Oil Company to develop Abu Dhabi’s downstream capabilities and position the emirate as the leading hub serving the Middle East and the growing markets of Asia.
Mubadala’s investment portfolio of companies operating in a variety of sectors locally and globally supports the vision and strategy of its shareholder, the Government of Abu Dhabi, in achieving the Abu Dhabi Vision 2030 towards a diversified economy. In the energy sector more specifically, Mubadala’s portfolio of energy companies and operational assets support the UAE Vision 2021 and the UAE Energy Strategy 2050 which set, among others, a 50% target for clean energy in the country’s energy mix by 2050.
Commenting on the announcement, Dr Matar Al Neyadi, Undersecretary at the UAE Ministry of Energy and Industry and chairman of the UAE Organising Committee for the 24th World Energy Congress, said: “We are delighted to partner with Mubadala as a local host to the 2019 Abu Dhabi World Energy Congress. Mubadala is recognised globally for its forward-looking approach to investment and for its philosophy centered on founding world-class partnerships.
“Thanks to its expertise, Mubadala is helping transform Abu Dhabi and the UAE into a global centre of excellence. By being at the forefront of the 24th World Energy Congress, Mubadala will support our ambition to bring leading companies and investors, industry experts and entrepreneurs to Abu Dhabi next year. Ultimately, this will help create a leading platform for influence and strengthen cooperation between the public and private sectors worldwide.”
Musabbeh Al Kaabi CEO of the Petroleum and Petrochemicals platform at the Mubadala Investment Company added: “The congress will attract a broad range of key senior players in the energy industry to Abu Dhabi. As a global investor, we are honoured to be among the hosts who will welcome these guests and provide them with a clear picture of the capabilities and expertise that exist within the emirate to support the leading position Abu Dhabi now holds in the global energy sector.”