Saudi Aramco and the energy transition: a vision from the south

Saudi Aramco and the energy transition: a vision from the south
Saudi Aramco and the energy transition: a vision from the south

At a special meeting of the World Economic Forum in Riyadh, Amin Nasser, CEO of Saudi Aramco, highlighted the continued growth in demand for hydrocarbons in the Global South, predicting that this region will account for 80% of demand for by 2050. By positioning itself in this market, Aramco demonstrates the importance of not marginalizing these economies in the global energy transition and thus calling for an approach that promotes a global mission rather than designating winners and losers.

The reality of investments and renewable energies

Amin Nasser criticized the current focus of investments in renewable energies by the global North, emphasizing that: “hydrocarbons remain vital for the economic development of the South. He highlighted the need for balanced investments in all forms of energy to ensure a just and effective transition. »
He also stressed that: “despite the increase in renewable capacities, consumption of fossil fuels has also increased, showing the complexity of the energy transition. »

Rationalization and energy priorities of Saudi Arabia

Saudi Arabia, while being the world’s largest oil exporter, is pursuing a strategy of diversifying its energy sources, with ambitious targets for renewables. Nasser also addressed the high cost of hydrogen as an alternative, a major concern for Gulf oil exporters. Saudi Aramco plans to increase its production of blue ammonia for power generation, exploiting its vast natural gas resources.
Amin Nasser of Saudi Aramco clearly defined the challenges of the energy transition, highlighting the need for an approach adapted to the economic realities of each region to avoid an imbalance that could harm the economies of the Global South.

-

-

PREV More trains, coaches with a high level of service, single ticketing… what the Montpellier SERM contains to facilitate mobility
NEXT Alès: the city unites for National Access to Law Day