His company is ready to launch its hydrogen project, but while waiting for incentives from customers, stressing that the state oil company is now looking forward to investing in new energy sources outside the Kingdom.
cast down CEO of Saudi Aramco Amin Al-Nasser highlighted the challenges facing the energy sector and urged a rapid transition towards sustainable energy sources and effective programmes, stressing the importance of “fair” energy transition programs without excluding developing countries.
He expected, during his participation in the session “Energy Transformation in Companies,” within the activities of the special meeting of the A. Forum for the global economy, held in Riyadh, increased consumption of gas and coal during the current year 2024.
Al-Nasser expressed Aramco’s readiness to launch its hydrogen project, awaiting appropriate incentives from customers. The company also announced its aspiration to invest in new energy sources outside the Kingdom.
Amin Al-Nasser pointed out that 80% of the demand for hydrocarbon energy is expected to come from the poorest countries by 2050.
The CEO of Aramco stressed that the transformation in the field of energy is necessary for everyone, but he pointed out the necessity of having concrete and effective programs that match this transformation.
He explained that although 85% of the world’s population lives in the countries of the South, only less than 5% of investments in the field of renewable energy are directed there, while about 80% of these investments are directed to the G20 countries. He added that a very small percentage of global energy is derived from renewable sources such as sun and wind, which shows insufficient interest in investing in these sources.
