‎“Aramco” CEO: Energy transition requires parallel global shift ‎in materials production

The President and Chief Executive Officer of Saudi Aramco, Eng. Amin Hassan Al-Nasser, confirmed to a number of leaders in the chemicals sector that the global energy transition requires a parallel global shift in the production of materials used in the construction and manufacturing sectors, which can be called a “material transformation.”

Engineer Al-Nasser made his statements at the Gulf Petrochemicals and Chemicals Association Forum (GPCA), which is being held for the first time in the Kingdom and hosted by the city of Riyadh, which was inaugurated by Prince Abdulaziz bin Salman, Minister of Energy, and attended by a group of Saudi Aramco officials, as well as officials and senior executives in the sector.

Al-Nasser, put forward the idea of “material transformation”, indicating that there is a great opportunity for the chemicals sector in the Kingdom, the Gulf region and around the world to play a major role in the production of advanced materials, specifying the three aspects that It should be worked on, which includes:

“First, the chemicals sector needs to enhance and accelerate its efforts in innovation to develop new materials that are widely used in the construction and manufacturing sector and are more robust and sustainable, and their raw material is polymers, while reducing their production cost so that they are competitive in prices, and complement For traditional materials (such as iron and concrete) with their excellence in performance, taking into account that the growth of the global economy during the next 30 years and the growth of the world population will result in a significant increase in the demand for traditional materials, and these new materials must be developed.

Second, to establish a center for research and development of new materials in the Kingdom to push the boundaries of innovation through global cooperation

Third, with the energy crisis in the world and many chemical companies having to reduce or close their operations, especially in Europe, there is an opportunity for continuation and growth in the chemicals sector with the availability of fuel and raw materials, and a supportive infrastructure on a large scale, there is nothing more Attractive to chemical companies worldwide from our investment in the Kingdom.