Press releases

The second edition of the forum takes place in Dubai under the theme “Breaking new ground in 2022: The regional industry in transformation”

Dubai, United Arab Emirates, 2 March 2022 – The downstream hydrocarbon industry in the Arabian Gulf plays a critical role in achieving net-zero goals, according to speakers at the second edition of the Gulf Petrochemicals & Chemicals Association (GPCA) Leaders Forum held today at The Address Dubai Mall Hotel in Dubai, UAE.

Delivering the Inaugural address at the Forum, Yousef Al-Benyan, Chairman, GPCA and Vice Chairman and CEO, SABIC, stated that the long journey of carbon neutrality begins with a few steps which includes creating a baseline, setting emission reduction targets, and establishing strong governance. He also highlighted the role of policymakers in shaping the pathway for hydrogen and facilitating international co-operation and collaboration. Achieving net-zero goals will require complete transformation of businesses, supported by policy makers, investors, companies and consumers.

Following Al-Benyan’s address, a session on “the Future of the Oil Market under Carbon Neutrality Policies” was delivered by Dr. Anas Al Hajji, Managing Partner of Energy Outlook Advisors and Editorial Advisor for Dr. Al Hajji shared his insights on the shortcomings in current long-term forecasts of the oil market, discussed the true impact of renewable energy on the oil market and touched upon the key areas the petrochemical industry can benefit from. He also delved on the impact of the regional and global carbon neutrality policies and its implications on the petrochemical industry. The session also emphasized on the growing interest in sustainable hydrogen (blue and green hydrogen and ammonia) in the GCC and globally and how this will help reach their greenhouse gas emissions targets.

The event also hosted an industry led high-level session under the theme, “Leading the energy transition through innovation and technology: A GCC perspective” with participation from esteemed speakers including Dr. Bob Maughon, Executive VP of Sustainability, Technology & Innovation, CTO at SABIC, Dr. Marco Ziegler, Senior Partner at McKinsey & Company and Dr. Noura Mansouri, Research Fellow at the energy think-tank KAPSARC. The session highlighted the global trends for decarbonization, the role of renewables in energy transition, the importance of collaboration amongst the value chain and the role of collaboration and engagement with regulatory authorities.

On this occasion, Dr. Abdulwahab Al Sadoun, GPCA Secretary General, said: “A focus on sustainability, innovation, energy transition, lowering emissions and the circular economy – were brought to the forefront of the industry during the last 2 years. Formulating key partnerships with peers across the sector will enable the industry to transition into a net-zero future.” He added: “We are delighted to host and organize another successful edition of this special event exclusive for C-suite executives from the region and across the globe. It is rewarding to see the industry’s growing commitment towards net-zero targets and the level of urgency the leaders have identified.”

The second edition of the GPCA Leaders Forum, an exclusive C-suite event, attracted 91 senior industry leaders from 73 companies in 9 countries. The Forum was held under the theme, “Breaking new ground in 2022: The regional industry in transformation”

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