Saudi Energy Minister: Kingdom will overcome challenges and continue to meet commitments
Riyadh, 12 October (KUNA) – Saudi Minister of Energy and Minister of Industry and Mineral Resources, Prince Abdulaziz bin Salman, affirmed today that the Kingdom will overcome the challenges it is facing and continue to move forward toward the future, fulfilling its commitments in line with achieving its vision, driven by its responsibility toward future generations. This statement was made during his speech at the opening of the 25th World Petroleum Congress in Riyadh, under the theme “Pathways to an Energy Future for All,” attended by senior officials, top executives, investors, experts, and specialists in the energy sector, according to the Saudi Press Agency (SPA).
Prince Abdulaziz noted that recent developments in the region and the Kingdom have reaffirmed that energy security cannot be taken for granted amid pressures on supply routes and attacks on infrastructure. He stressed that resilience and the ability to confront these challenges are built before crises occur, pointing out that the Kingdom has invested over decades in infrastructure, reserve capacities, storage, alternative export routes, technologies, local supply chains, and human capabilities.
He emphasized that localization for the Kingdom goes beyond being merely an economic goal; it constitutes a strategic capability that supports business continuity and recovery when international supply chains are disrupted. He clarified that the resilience of energy systems includes the ability to maintain, repair, reroute, find alternatives, recover, and continue supplying energy under pressure, adding that the Kingdom’s demonstrated resilience and recovery capacity bolster the reliability of international supplies and enhance its status as a trusted partner in the global economy.
He underscored that there can be no energy future for all without energy security for all, stressing the necessity of advancing energy security and sectoral transformation in tandem. He outlined that the Kingdom will continue to invest in reliable oil and gas supplies, expand the exploitation of renewable energy, strengthen electricity grids and storage capacities, develop gas infrastructure, and advance low-emission technologies and solutions.
He confirmed the ongoing implementation of the plans and programs of Saudi Vision 2030, including investments in the energy system and industrial capabilities, their development, building local manufacturing capacities, strengthening supply chain resilience, and investing in human capital.
The World Petroleum Congress is the flagship event organized by WPC Energy, founded in 1933, with membership comprising more than 60 countries, providing an international platform for dialogue, knowledge exchange, and enhanced cooperation in the energy sector. (End) K.N.S. / N.S.A.
