CERA Week India - October 2020

[M066-01] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:00:00 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

Honorable Prime Minister, Narendra Modi, distinguished guests, ladies and gentlemen, my friend and personal friends are from all over India, great India. It is a pleasure to be taking part in this event, and an honor to be sharing this platform with the honorable Prime Minister, a valued partner for the Kingdom of Saudi Arabia. Indeed, India is more than a partner, I cannot think of any two countries in the world that share greater synergy and interdependence than India and Saudi Arabia. Prime Minister Modi recent historic visit to the Kingdom, and the his meeting with the Custodian of the Two Holy Mosques, King of Salman Bin Abdulaziz, and His Royal Highness, the Crown Prince Muhammad Bin Salman, witnessed a climax of centuries old partnership, and it sets this stage for a more prolonged strategic relationship.

[M066-02] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:20 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

In fact, it put it in stones with the establishment of the Indian Saudi Arabia strategic partnership. Under the Council set up by this Agreement, I have the honor to Co-chair the ministerial Committee for Economy and investment between our two countries. From this partner perspective, I can see clearly that the future of these two nations is intertwined. During the visit, the two countries signed eight memorandums of understandings, including agreements on the energy field for cooperation renewable where there are greater opportunities, including manufacturing.

[M066-03] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:08 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

There was also important agreement for meeting India demand MOU between Saudi Aramco and the Indian Strategic petroleum reserves. Honorable Prime Minister, Narendra Modi, distinguished guests, energy is the engine of growth of our economies; Saudi Arabia is the worldly biggest oil exporter, India is one of the fastest growing energy consumers in the world. In the economic terms, we are complementary, but it goes beyond the energy; we also share vision.

[M066-04] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:52 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

India with a vision for a new India, Prime Minister Modi, has pioneered in Saudi Arabia with its vision 2030 pioneered by His Royal Highness, the Crown Prince Muhammad, at the heart of both visions is the goal of enduring economic modernization fueled by energy innovation and growth of high technogical economy, and openness towards international trade. India has already reaped big rewards; one of the world's largest economies with the world-renowned skills and information technology space exploration and the medical science as well as the financial services along with other services.

[M066-05] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:03:49 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

Now, as a global energy market, as the global energy market faces challenges of security and stability because of the COVID-19 pandemic and climate change, we must be ready for coordinating and cooperating. In the days after September 14th last year, the attack on Abqaiq and Khuris, the worst and most serious disruption in oil history has occurred plunging the energy world into an uncertainty.

[M066-06] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:04:26 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

I spent a good part of the next three days on the phone to my friend and colleague, Dharmendra Pradhan, Minister of Petroleum and natural gas, to reassure him that the Indian economy would not be impacted or disrupted by this incident and indeed we delivered. This is a priority for Saudi Arabia, we are conscious of the importance of the Indian economy to the world, and we know for certain that when its engine of development is working well, both economies prosper: ours and yours.

[M066-07] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:05:13 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

Whether due to outrageous attack or just the demand of seasonality, Saudi Arabia all is always ready to demonstrate this pledge to India, it is a welcomed pledge, and we will continue delivering on our pledges. We have never forfeited our promises, we have never forfeited our pledges. On the big issues of the day, climate change, Saudi Arabia is affirm advocate of circular carbon economy, and its 4Rs: reduce, reuse, recycle, and remove.

[M066-08] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:05:56 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

This seeks to replicate the cycle of nature in managing the greenhouse gas emissions, to keep the temperature rise to be below two degrees centigrade from all the forms of hydrocarbon, which make this approach so effective for both Saudi Arabia and India. Thanks to the support of India through His Excellency, the Minister of Power and Renewable Energy, Raj Kumar Singh, we were able to secure the four winners instead of the win-win situation, and the four-win situations which we successfully managed in our recent G20 Energy Ministers communicate, four different initiatives, one on sustainability such as the CCE, energy access, security, and market stability. Cleaner energy system, including renewable and less emitting hydrocarbons, will be at the heart of our future relationship.

[M066-09] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:07:11 · CERA Week India - October 2020 · 2021-10-19 · مشاهدة عند هذا التوقيت

There is a great opportunity for both countries in the renewable energy sphere, including the strategic partners that we have joined, like the International Solar Alliance, it will put our country at the forefront of energy transition for the good of future generations. Distinguished Honorable Prime Minister, distinguished guests, ladies and gentlemen! India and Saudi Arabia have shared advantages as we can confront our common challenges. We have a wealth of resources, we have a visionary leadership, and we have a capable and efficient institutions, where we are also propelled by the ambitious citizens as you can see, we are found together by a far more than just energy. Let us proceed in partnership to realize our potential, and achieve our shared destiny. Thank you