Pragmatic approach needed for climate action, oil and gas remain important, says ADNOC CEO

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Sultan Ahmed Al Jaber, UAE Minister of State and the Abu Dhabi National Oil Company (ADNOC) Group CEO poses during an interview, at the ADNOC headquarters in Abu Dhabi, UAE December 10, 2019. REUTERS/Satish Kumar

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RIYADH, Oct 23 (Reuters) - Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan al-Jaber on Saturday stressed the importance of oil and gas in meeting energy requirements and said climate action should not be an economic burden on developing nations.

Jaber, who is also the United Arab Emirates' minister of industry and advanced technology, told the Saudi Green Initiative that the world had "sleepwalked" into a supply crunch after a "serious" reduction in investment in hydrocarbons in the past 7-8 years.

He said a "one size fits all approach" will not work in global efforts to tackle climate change, calling for pragmatism.

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Reporting by Yousef Saba and Saeed Azhar in Riyadh, Marwa Rashad in London and Maher Chmaytelli in Dubai Writing by Ghaida Ghantous

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