<article><p class="lead">There is no contradiction between Abu Dhabi's efforts to boosts its production capacity and the UAE's membership of Opec, minister of energy Suhail al-Mazrouei said today.</p><p>The UAE is Opec's third-biggest producer, with <a href="https://direct.argusmedia.com/newsandanalysis/article/2175300">output estimated</a> by <i>Argus</i> at 2.58mn b/d in December, or around 60pc of its capacity that state-owned Adnoc has lifted to more than 4mn b/d from 3.5mn b/d in 2019.</p><p>Abu Dhabi, which produces the vast majority of the UAE's crude, has shut in substantial upstream output to comply with the Opec+ cuts that are scheduled to last until April 2022. This commitment has heaped pressure on Abu Dhabi's income, forcing it to reign in spending elsewhere. </p><p>"There is no contradiction between building capacity and staying part of the group," al-Mazrouei said at the Atlantic Council's <i>Global Energy Forum</i>. "We all know that trillions have not been invested. It will catch up with us.</p><p>"We have to keep investing while others are not. We are a country that has invested, even in the difficult years and it is our responsibility," al-Mazrouei said.</p><p>Adnoc plans to raise capacity to 5mn b/d by 2030. This will go towards meeting demand in 2040, which al-Mazrouei said will reach between 105mn b/d to 109mn b/d depending on how quickly and effectively alternative energy sources can develop. </p><p>Boosting its hydrocarbon production capacity will help the UAE capture market share as long-term oil and gas demand grows, while positioning itself as it prepares for a transition to a low-carbon world.</p><p>"What we are looking for is efficiency of production… we will be producing some of the cleanest barrels in the future. We are targeting to have the lowest-cost and cleanest barrels. This gives us the confidence that in the future there will be demand for our barrels," said al-Mazrouei.</p><p class="bylines">By Adal Mirza</p></article>
