BAKU (The Thursday Times) — At COP29 in Azerbaijan, OPEC Secretary General Haitham Al Ghais declared that crude oil and natural gas are a divine gift, urging global leaders to prioritise emissions reductions rather than abandoning traditional energy sources. The conference saw a contentious debate on the role of fossil fuels in the energy transition amid accelerating climate threats.
Al Ghais highlighted the pivotal role oil and gas play in daily life, from agriculture and medicine to global supply chains. He underscored the importance of maintaining these resources while employing technologies to mitigate their environmental impact. This stance, shared by Azerbaijan’s leadership, reflects a broader regional defence of fossil fuels amid increasing scrutiny from Western nations.
At the heart of the discussion was the need to balance economic development with climate goals. OPEC has championed carbon capture, utilisation, and storage (CCUS) as a key tool in addressing emissions without phasing out fossil fuels entirely.
Carbon capture gains momentum
OPEC and the Gas Exporting Countries Forum argued that CCUS technologies can enable a cleaner use of fossil fuels, providing a bridge towards sustainable energy transitions. These technologies are seen as critical in reducing emissions while supporting economic growth, particularly in energy-dependent regions.
The summit also addressed the role of international climate finance in supporting such initiatives. Delegates called for investments in gas projects and advanced CCUS solutions to ensure equitable and practical transitions for all nations, particularly those reliant on oil and gas revenues.
While energy leaders defended the role of fossil fuels, climate scientists at COP29 painted a dire picture of the planet’s future. With the 1.5°C threshold projected to be crossed by the early 2030s, urgent action is needed to prevent catastrophic impacts. Critics of OPEC’s stance argue that reliance on fossil fuels undermines global climate efforts and delays the shift to renewables.
The UN’s Emissions Gap Report warns that current policies put the world on track for up to 3.1°C warming by the end of the century. This alarming trajectory raises questions about whether technologies like CCUS can sufficiently address the scale of the crisis.