HRH Minister of Energy at Davos Agenda 2022

[M084-02] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:00:42 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

It is been a while at least before the Christmas and new year we have not talked.

[M084-04] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:09 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

Well, luckily, I have a record ever since May, last year, I have been consistent with the idea that the main pillar of energizing the world is to make sure that whatever we do should be consistent with maintaining energy security in the broader context of energy security, it means that we, the world does have a lot of the right abundant resources, and these resources need to be utilized; both hydrocarbon fossil, renewable, hydrogen, and all of the above, we should be consistently assuring the world that no matter what happens the world economy will continue to be energized, and I did talked about these three pillars, energy security, which is a paramount and profound, and then, economic growth, economic prosperity, and economic sustainability, and also, as I have always been saying, mindful of the climate change,

[M084-05] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:22 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

These three pillars cannot be, for you know, forfeited, but one of them could be forfeited for the others. I think the world has the competency, the capability, and the willingness, I hope, of working together where we can achieve this, maintaining these three pillars, because without them, I do not think we will ever reach any of our target be it on the energy security, be it on sustainability of growth of the world economy, and be it also making good of all our promises when it comes to the climate change.

[M084-07] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:03:30 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

well, the Green Initiative has much to do with what is pertaining to do in Saudi Arabia. Then, we have the Middle East Green Initiative which is another initiative which we want to make sure that not only ourselves, but even the entire region will be at work trying to deliver targets, and maintain our commitments as a region with the support and help of the others within the region and outside the region.

[M084-08] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:04:02 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

Our Green Initiative the main pillar of it is the circular carbon economy. We have been advocating that ever since November 19, and this is the way much before the crisis or what happened to the oil market or what have you, and we have been consistent with that, we believe that the world had warranties, a great approval in the form of both G20s, and 2020 and 2021. We are trying to demonstrate that the 4Rs of the Circular Carbon Economy will deliver us all of the above, It will deliver us the energy security because it does not get into the facetious discussion of what energy source should be of use. You know, I was in just two days ago, and I would be in the sustainability week, and I did, and it would continue to repeat. We should not be picky and choosy about what the energy source, one country should use. I think it should be left to all countries to choose their own fitting choice based on their national resources, and national abilities.

[M084-09] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:05:22 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

We want to make sure that the whole world congregate and I am at a pain to make sure that our message is loud and clear, that we feel that the circular carbon economy can deliver all of the above. When it comes to the real issue and the real cause. I believe - I hope that I am not wrong in my belief- that we are all trying to congregate around the idea of reducing emissions of all the greenhouse gases, and we should use every tool in the kit, and so, we created some new tools in the kit to deliver us that target and that hope.

[M084-10] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:06:13 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

If we are to do that on honesty, we have to be honest about are we really trying to achieve that goal or are we trying to take that hope as a pretext to try to start choosing that we should get rid of hydrocarbon or we should get rid of the fossil fuels, where we are going to be working with everybody when it comes to unabated hydrocarbon, and unabated fossil fuel. I think we need to work on these things, and we need to deliver on these things. We need to make sure that we create the right environment for green and blue hydrogen. We are willing to work with everybody.

[M084-11] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:07:04 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

The circular carbon economy requires also being so much more innovative about recycling and reusing, and this is a fundamental issue also, because we find out that CO2 will be a material as opposed to be something that we will we try to find the way here or there to get rid of it, but even if it is, as you know, the notion of remove is paramount in the circular carbon economy. Again, carbon sequestration, carbon utilization, Carbon capture, and creating sinks is paramount. If you look at all the initiatives of the green, what his royal highness, the crown prince, Green Initiative or Middle East Green Initiative. They all speak and talk not only about our commitments to do that at home, but also to work with the others to deliver these ambitions within the Middle East, and even broader because as you may have heard them, we already plugged ourselves into the methane initiative.

[M084-12] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:08:20 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

We are already working with the US and the other members of the new, and we are hoping, by the way, to have a Sierra week as a launching pad for the Net Zero Forum. We did it willingly and voluntarily because we believe that we have serious efforts that we can showcase and we are not different from anybody when it comes to be conscious about the environment, and be conscious about delivering us a good result when it comes to mitigating climate change.

[M084-14] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:09:07 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

Very simple, you have to work on the 4Rs, which is to remove, and that can happen through using efficiency or as we are doing, and we will be doing, which is converting your energy mix towards something that is more economical. I am ready anytime and anyplace, I hope you could give me the threat or somebody gives me the treat, and I will showcase you a case study of how Saudi Arabia would actually make more money by converting our energy mix to the one which we are targeting, and which is taking away our entire power sector from using a medium barrel of liquids towards 50% of the gas, and 50% of the renewable.

[M084-15] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:09:57 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

It is a profound economical case that, and I cannot think of any country in the Planet Earth that can demonstrate that by itself. Is going to give us at least 100 million tons of reduction of emissions, and in CO2 emissions. Our aggregate, and the NDC that we have just recently issued before, within the Green Initiative at the time of the Green Initiatives, and just before the COP26, it would get us reduce our emission by the 278 million tons, which is I would repeat that number, because it is the number for people to watch. It is tantamount to the current emissions of the countries following, which is Kuwait, Bahrain, Qatar, and Oman. and a little bit more than what is the current emission of the UAE, taking UAE, separately.

[M084-17] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:11:04 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

The recycling, it is again, and reusing it is about making sure that that CO2, yes will be captured, but it would be put into a good use where we could use it for creating more materials like carbon boards, and like so many other things, we have SABIC that are up doing something of that sort. the remove, as I said, it is a very simple: carbon capture, air capture, carbon capture, and sequestration and use also. We are also, as you know, piloting it with Aramco, and we are collaborating in the forum that is the US is hosting, it has been hosting for the last 15 years. We have nothing to hide, and we are not have shying away from being there, and proactively engaged with everybody. What we want to do is for the people is to avoid. You know that I would really like to see the true colors of everybody, are we, after getting rid of hydrocarbon and the fossil fuel, using the climate change as the pretext for that to happen, or are we really sincere and serious in attending to the climate change, and if we are, we should be indifferent about what sort of energy resource that is used so long it is being mitigated.

[M084-19] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:12:54 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

Ok, just last yesterday, I was on the phone with France Timmerman, and we were working with the EU, and many member states of the EU on green hydrogen. In fact, we are congregating with the others to make sure that we scale up the market. One of the more concerning issues is how much green hydrogen market would be in the years to come. Once, we can do that, and I hope that we can do it in aggregate because that will be the biggest enticing.

[M084-20] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:13:30 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

We are hoping that we become, if we are accepted to be, but I worry a lot because, again, we may end to get into the energy security issue that some may not like the idea of being seeing Saudi Arabia as also being the predominant on green hydrogen, but we will be, and we hope that we could be accepted because we would have the, were those to be the least cost producer of green hydrogen, and you remember what I did explain to you before, Dan, that blue hydrogen is also going to be, and we would have the field today with blue hydrogen because again we are also the cheapest costed producer of the gas, but we doing a huge investment on the shared gas in Saudi Arabia, and we will be dedicated to amount of that gas to be used for producing blue hydrogen.

[M084-21] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:14:32 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

There is another funky type of hydrogen which we call it pink now, and, hopefully, when we do our nuclear investments, which you know, we are recruiting by this way young Saudi ladies that they are happy to see pink coming along. So, in their time, hopefully, you will see a Saudi pink hydrogen being produced somewhere in Saudi Arabia.

[M084-23] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:15:13 · HRH Minister of Energy at Davos Agenda 2022 · 2022-01-19 · مشاهدة عند هذا التوقيت

We are very conscious of being taken care of our females, new recruits and new cadets, and we are becoming as the country so extremely well, and emancipated society.