Saudi Arabia continues to be 'energy hub', to rival those with competitive power: Minister

Minister of Energy Prince Abdulaziz bin Salman said Saudi Arabia is and will continue to be a key hub in the energy industry and related fields. The Kingdom will also challenge and rival those with competitive powers.

Addressing the Saudi-EU Investment Forum’s opening session, the minister highlighted that the Kingdom is in a transitional phase and has several incentives in this sector, aside from the challenges. It is aware of this transformation and its requirements, while realizing the reality of the necessity of comprehensiveness and attention to climate change.

Furthermore, focus must be maintained to achieve the commitments agreed upon in The Paris Agreement, which provides a durable framework guiding the global effort for a sustainable economy and energy system, he added.

If attention is not paid to energy security and economic sustainability, according to the minister, the world will lack the enablers and capabilities to address climate change.

“The key is a circular carbon economy, and we must focus and develop collective and logical solutions, taking into account all other related issues,” he further stated.

Source: Argaam