Saudi Arabian Member Committee

The Saudi Arabia National Committee aims to promote sustainable energy development in Saudi Arabia, as a part of the World Energy Council’s energy vision. As a member of the World Energy Council network, the organisation is committed to representing the Saudi perspective within national, regional and global energy debates. The committee includes a variety of members to ensure that the diverse energy interests of Saudi Arabia are appropriately represented. Members of the committee are invited to attend high-level events, participate in energy-focused study groups, contribute to technical research and be a part of the global energy dialogue.

His Royal Highness Prince Abdulaziz was appointed Minister of Energy in September 2019. In his capacity as Minister of Energy of Saudi Arabia, Prince Abdulaziz is responsible for coordinating the Kingdom’s domestic and international energy policies in line with the goals of Vision 2030. This includes overseeing energy activities within the Kingdom; regulating the oil, gas, electricity, nuclear and renewables sectors in the interests of the Kingdom in the short and long term and directing Saudi international policy with regard to relations with producers (including through OPEC and OPEC+) and with consumers. He has been an active participant in shaping energy policy, both nationally and internationally for more than thirty years and he is the chairman of many energy related organizations. 

Prior to his appointment as the Minister of Energy, Prince Abdulaziz served in numerous capacities in the Ministry over the past three decades, including as Minister of State for Energy Affairs, Vice Minister of Petroleum and Mineral Resources, Assistant Minister of Petroleum and Mineral Resources, Deputy Minister for Petroleum Affairs and Adviser to the Minister of Petroleum and Mineral Resources. 

HRH holds a Master’s Degree in Business Administration (MBA) (1985) and a Bachelor's Degree in Industrial Management (1982), both from King Fahd University of Petroleum and Minerals. After graduation, he served from 1985-87 as Director of the Economic and Industrial Research Division of the Research Institute at King Fahd University of Petroleum

Email: Yasir.Turki@moenergy.gov.sa

Energy in Saudi Arabia

The Kingdom of Saudi Arabia is blessed with natural endowments including hydrocarbon resources. Diversification of the economy through the utilization of all resources by tapping into available and potential cleaner technologies is one of the Kingdom’s primary objectives in its Vision 2030. The Saudi Vision 2030 guides the nation’s sustainable development strategies based on three pillars – a vibrant society, a thriving economy, and an ambitious nation.  

In the energy sector, Saudi Arabia is leading the energy transition by adopting the Circular Carbon Economy (CCE) framework, which provides a holistic approach to managing emissions while continuing the economic development of the country. The G20, under Saudi Arabian presidency, highlighted the CCE framework, which addresses climate change through the “4Rs”: Reduce, Reuse, Recycle, and Remove emissions from the atmosphere.  

Recently, Saudi Arabia adopted significant changes within its energy eco-system, including governance, standards, and laws focusing on energy efficiency. Currently, the utility sector is being restructured to encourage privatization and international investment. The Kingdom ensures stakeholder engagement in all major energy issues as the customer-centricity and demand-side innovation is well reflected in the development and implementation of major energy initiatives. Moreover, the Hydrocarbon Sustainability Program focuses on finding new and innovative uses for hydrocarbon resources in an economic and environmentally sustainable way. 

Under this framework the country is displacing liquid from its energy mix for power and optimizing it by relying on 50% gas and 50% on renewables by 2030. Moreover, the country aims to spearhead the effort in deploying Carbon Capture, Utilization, and Storage (CCUS) and hydrogen to bring costs down significantly, which will enable global deployment of this technology. Saudi aims to be a leader in CCUS and a major exporter of clean energy especially hydrogen. This balanced approach of advancing energy transition and technology integration through inclusive investment, including renewables and energy efficiency, and cleaner fuels and hydrocarbon technologies considers climate change mitigation, and adaptation co-benefits as outlined in the Nationally Determined Contribution (NDC) of Saudi Arabia under the Paris agreement, while maximizing the economic value of its energy resources. 

Moreover, Saudi Arabia plays a pivotal role in the security and stability of the global energy market. It is committed to the stability of energy market and focusing on energy supply security and safety. Saudi Arabian reaction to supply disruptions was tested during the 2019 Abqaiq–Khurais attack. The Kingdom avoided global supply interruptions bringing back production levels of the world’s largest oil processing facility in less than three weeks. Terrorist attacks on Saudi Arabia emphasized the extreme importance of energy security, reflecting a strong international support on the country's supreme authority and right to a peaceful environment. While Saudi continues to steadily invest in its energy sector, the slump in investment in the sector globally during the 2020 crisis raises concerns for producers and consumers, about the timely availability of future energy supplies to meet global demand. 

In addition, the country continues its significant investment in digitalisation and supporting relevant R&D initiatives; however, like other countries, concerns about cyber security risks are high. 

The Saudi Issues Monitor Map 2021 echoes the energy sector leaders’ interests and views on economic trends, modern technology, social welfare, and sustainable energy resources. The energy leaders’ perception on the Kingdom’s energy resilience and preparedness to natural hazards, extreme weather events, pandemics, malicious risks, and demand-side structural changes and disruptions is confident. This reflects the optimism of the country that has not suffered from a second wave of the COVID-19.  Nevertheless, the pandemic’s effects led to reservations about economic trends that emerged as one of the critical uncertainties sphere in the country’s map.  

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