28/07/2015 05:20 AST
JEDDAH: Suhail Mohamed Faraj Al-Mazrouei, minister of energy for the UAE, will deliver the inaugural address at the upcoming Annual GPCA Forum taking place from Nov. 17-19 in Dubai.
The 10th anniversary edition of the forum, the flagship event of the Gulf Petrochemicals and Chemicals Association (GPCA), is themed: Building on achievements: Enabling continued success in the change chemical landscape.
“The UAE has grown into a nation with an open business mindset as part of its identity, which is evident in the government’s drive to diversify its revenue streams to include industries, products and services that create high value,” said Abdulwahab Al-Sadoun.
“To host the UAE Minister of Energy at the 10th Annual GPCA Forum is therefore a demonstration of the leadership’s continued focus to support the development of a dynamic hydrocarbon downstream sector. And as a leader from an influential OPEC country, Al-Mazrouei will no doubt have unique insights on going energy and economic developments.”
Al-Mazrouei also chairs two major international petrochemical companies, Borealis and NOVA Chemicals.
According to GPCA research, the UAE currently operates a petrochemical portfolio consisting of 10.5 million tons of capacity, the export-oriented sector earned up to $7.4 billion in revenues, through the sales of products like plastic and fertilizers.
Abdullatif A. Al-Othman, governor and chairman of the board of directors, Saudi Arabian General Investment Authority (SAGIA), will deliver this year’s opening address. Other notable industry leaders who have confirmed participation include Rashed Saud Al-Shamsi, chairman GPCA and petrochemicals director, ADNOC; Yousef Al-Benyan, vice chairman, GPCA and acting vice chairman and CEO, SABIC; Nizar M. Al-Adsani, deputy chairman and CEO, Kuwait Petroleum Corporation, and Neil Chapman, president, ExxonMobil Chemical.
“As the second largest manufacturing industry in the GCC, the petrochemicals industry remains one that is poised to bring in greater returns, create jobs and help in building a knowledge economy. Collaborative discussions between multiple stakeholders, like those at the annual forum, will be crucial in charting the way forward, so that the downstream sector can fulfill its growth potential, now and in the future.”
Previous inaugural speakers at the GPCA Annual Forums have included Minister of Petroleum and Mineral Resources Ali Al-Naimi, Prince Abdulaziz bin Salman, deputy minister of petroleum and mineral resources; Mohammed Saleh Abdulla Al- Sada, minister of energy and industry of Qatar; Sheikha Lubna bint Khalid Al-Qasimi, UAE minister of international cooperation and development; and Rashid bin Fahad, UAE minister of environment and water.
Arab News
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