Page 174 - CW E-Magazine (2-1-2024)

Annual GpcA Forum

sequestration, and low carbon solu- and global fragmentation, continue to chemical industry, as we contend with
tions for reduced GHG emissions & move the macro needle, 2024 is going to important challenges that will shape the
carbon intensity in chemical manufac- be an interesting year to watch, he said. industry’s future for decades to come.
turing. Other areas included optimising As ever, the chemical industry needs to
resources use, waste reduction, waste Critical role for chemical industry remain resilient in the face of ongoing
management and developing circular Speaking at the event, Dr. Moham- challenges and invent new avenues for
economies through improved recycling med Al Mulla, MD & CEO at QAPCO growth – where chemistry is an essential
and reuse of materials. (Qatar Petrochemical Company) and solution provider to the challenges the
Vice-Chairman of GPCA, emphasised world faces. Innovating for the future,
“We also need coordinated policies the crucial role for transformation in catering to the growing demands of our
and incentives to support the petro- shaping businesses today. He noted that customers, and successfully navigating
chemical industry’s success,” Mr. Al- transformation is essential to explore a world that’s more complex than ever
Kaabi said. newer geographical markets and to cre- before, will be a key imperative for the
ate a huge impact on the global stage industry in 2024 and beyond,” he said.
Terming the third enabler as aware- by leveraging cross-border trade and
ness, he said it was not fair to put the investment opportunities. He noted that
onus on energy producers alone as there chemistry would be part of the solution
was a need for the real story to be told as the world moves to a lower carbon
within workforce, across societies and and lower waste future.
among consumers about the critical
role chemical industries plays in better-
ing lives worldwide.

Mr. Salim bin Nasser bin Said Al Aufi
Mr. Salim bin Nasser bin Said Al
Aufi, Minister of Energy and Minerals,
Oman, delivered an incoming host ad-
Dr. Mohammed Al Mulla dress, announcing Oman as the official
Mr. Abdulrahman Al-Fageeh, CEO, host of the 18th Annual GPCA Forum,
SABIC and Chairman, GPCA, in his set to take place in December 2024.
speech, highlighted the role of the in- “This industry has transformed the way
dustry in addressing today’s challenges. we live and is going to contribute posi-
“The Annual GPCA Forum takes place at tively going forward towards the energy
a crucial time for the chemical and petro- transition as we produce renewable
energy from turbines, solar and other
Dr. Paul Gruenwald forms of renewables. The petrochemi-
In his keynote address, Dr. Paul Gru- cal industry is there to contribute and
enwald, Global Chief Economist at S&P is going to be an extremely important
Global Ratings, underscored the pri- pillar. The next forum should continue
mary challenge for the global economy that journey and make the voice of the
to secure a ‘soft landing’ in 2024. He dis- industry even stronger,” he said.
cussed the relative macro performance
of the big three regions – the US, China Concurrent events
and Europe, and provided the latest up- Among the concurrent events held
dates on inflation dynamics, and where alongside the Annual Forum was the
central bank rates are heading next. As 2nd edition of the GPCA Youth Forum,
structural challenges, such as the energy which sought to provide a platform for
transition, rising geopolitical tensions Mr. Abdulrahman Al-Fageeh young professionals in the region to

174 Chemical Weekly January 2, 2024

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