In his intervention within the activities of the Russian Energy Week forum in Moscow, Prince Abdulaziz said: “We are moving forward in changing our energy mix.”
He added, “By 2030, Saudi Arabia will be a model for the production of all energy sources. We will be the best in terms of efficiency… We will reduce emissions by staggering numbers. You will hear these numbers on the 23rd, 24th, 25th (of this month)…from Crown Prince (Saudi) Prince Mohammed.” Bin Salman… We have a history of success.”
The activities of the Green Saudi Initiative and the Green Middle East Initiative, which fall within the framework of achieving climate goals for Saudi Arabia, the largest oil exporter in the world, will be held from October 23-25 in Riyadh.
It is also the largest economy in the region, and it seeks, within the government’s Vision 2030, to diversify sources of income away from oil, while the world is witnessing a shift in energy consumption as a result of climate change agreements.
This week, Saudi Arabia announced a “national investment strategy” to achieve the vision’s goals.
Emphasizing Saudi Arabia’s endeavor to have the share of gas and renewable energy in the energy mix of 50% by 2030, Prince Abdulaziz said that work is underway to achieve this goal, specifying that shale gas in Saudi Arabia will contribute to providing 50% of the remaining percentage from renewable sources.
He added, “I have to remind the world that Saudi Arabia is setting a record in terms of producing electricity from renewable sources,” noting that his country will compete to achieve these endeavors with the help of companies working in this field, called the Saudi “ACWA Power” company and the Emirati “Masdar” and “” EDF French. While his country is working on this plan, it will reduce emissions.
For his part, the UAE Minister of Energy and Infrastructure Suhail Al Mazrouei said, at the same conference, that his country is also working on diversifying energy sources to become 38% of electric power based on gas, while the country is building solar power plants with a production capacity of 44 gigawatts and will produce 5.7 gigawatts. from nuclear energy.
Al Mazrouei added, “We have a detailed plan on how we will diversify the energy mix so that we do not rely only on one source, which is natural gas.”