Al Nasser: Aramco’s strengthened its position as a global low-carbon company

Engineer Amin H. Nasser, President and CEO of Saudi Aramco, stressed the importance of achieving a balance between three pivotal aspects in the energy sector, namely security, cost and sustainability, in parallel with encouraging the adoption of a practical approach that ensures the efficient implementation of the energy transition and combines oil, gas and renewable energy sources.

This came during his participation in a dialogue session entitled “Transition Plan 2.0.. A New Energy Strategy” within the activities of the fourth edition of the Saudi Green Initiative Forum, which is being held in the capital, Riyadh, under the slogan “We are the Initiators by Nature” in conjunction with the 16th Conference of the Parties to the United Nations Convention to Combat Desertification (COP16).

Al Nasser noted Saudi Aramco’s leadership in reducing emissions, pointing to the company’s pioneering investments aimed at stopping gas flaring since the late 1970s. This commitment has helped establish Saudi Aramco as a world leader in low-emission oil and gas production, with the lowest carbon footprint for carbon dioxide and methane emissions. He said: Saudi Aramco is committed to achieving net zero by 2050. However, all parties must take into account the current data, which indicates the need to benefit from all available energy sources in order to address three main issues: providing energy at an appropriate cost, ensuring security of supply, and its sustainability. Of course, not all countries have the ability to bear the high costs of energy supplies. Today, more than two billion people, especially in the countries of the Global South, are unable to access clean fuel for cooking, and 700 to 800 million people face frequent power outages. This should be a major factor in discussions related to the energy transition.