Energising the future of industry for sustainable growth and innovation

With current geopolitical uncertainties, shifting economies, and volatile markets, the energy sector is undergoing a significant evolution. The imperative to advance sustainable energy development has never been greater. Baker Hughes leverages ADIPEC to engage with world leaders in discussions centred around the importance of accelerating energy, and industry, toward a more sustainable, efficient and innovative future. This provides us with an opportunity to showcase our commitment to energising change within our own transition journey,
while continuing to deliver affordable,
reliable, and secure energy.

While some technologies exist today that can deliver a significant reduction in emissions, we must accelerate the development of new solutions that help accelerate progress toward net-zero goals. Digital and AI will play a critical role in driving efficiency gains and reducing emissions; the importance of digital is reflected in the launch of the “Digitalisation & Technology Conference” at ADIPEC this year to discuss and highlight the latest Fourth Industrial Revolution technologies needed to accelerate the energy transition.

Over the past few years, Baker Hughes has invested $2.1 billion in strategic initiatives focused on new energy solutions, demonstrating our commitment to advancing the energy transition. We have made early-stage investments and acquisitions in companies such as Mosaic Materials, NET Power, and GreenFire Energy. Additionally, strategic collaborations like our partnership with HIF Global reflect our dedication to driving multi-industry emissions reductions and addressing climate change.

With growing energy demand around the globe, hydrocarbons will continue to be a significant part of the global energy mix. Therefore, enhancing efficiency and reducing emissions in the oil and gas sector is paramount. According to the International Energy Agency (IEA), more than 40% of the emissions abatement needed by 2040 to meet the Paris Agreement goals can be achieved through energy efficiency gains. Implementing energy-efficient practices in extraction, processing, and distribution operations can reduce overall emissions. This includes optimising processes, upgrading infrastructure, and minimising methane leaks. Baker Hughes is focused on the entire lifecycle of energy production and consumption and aims to work with its customers on optimising efficiency and minimising environmental impact at every stage, whilst also providing long-term value. Additionally, we are keen to provide energy solutions that are sustainable for the economy and society at large.

We firmly believe that achieving net-zero goals necessitates robust partnerships, integrated thinking, and adherence to common sustainability standards. Collaborative innovation is key: by leveraging each other’s strengths, we can develop cutting-edge solutions to better serve the energy sector. Such partnerships can lead to expanded service offerings, facilitating progress toward sustainable energy development.

Alignment with global standards ensures that customers are part of a universally recognised effort, making it easier to engage with international markets and stakeholders and capitalise on the growing global momentum toward sustainable energy development.

Collaboration with Baker Hughes means being at the forefront of energy technology innovation. Together, we can explore sustainable solutions across the spectrum of energy sources whilst demonstrating a proactive commitment to sustainable energy development.

This is all aligned with the ADIPEC 2024 theme of ‘unite for accelerated energy progress’. We need to develop and scale new technologies and solutions that help drive growth, inspire collective climate action and deliver collaborative global energy progress.

As the energy transition continues to accelerate, delivering tangible climate action is necessary. That requires the energy industry to rethink energy production and consumption. With this complexity in mind, collaboration across industries is required; leaders must come together to explore new ways of partnerships to drive collective action.

Partnerships, particularly in hard-to-abate sectors such as mining, steel, cement and transportation, will be instrumental in overcoming challenges related to financing, technology, infrastructure development and talent. Collaborative efforts between energy providers and end-users are vital for addressing these challenges effectively and to scale-up progress across multiple sectors.

At Baker Hughes, we design, manufacture, and service transformative technologies to help take energy forward – making it safer, cleaner, and more efficient for people and the planet.