كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022

[M091-01] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:00:05 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

Thank you, Dana. I have always started my speeches with some job offerings to all the young Saudis, both women and men. However tonight is not my night, tonight is His Royal Highness, Prince Mohammed bin Salman night as he is the patron of this event, of which he would have liked to be with us here today, if it was not for his mammoth tasks that he is attending too diligently, so it is his night, and what an honor to be designated to open this conference in his behalf, but my honor to that tonight is being doubled down, because it comes within the period of our eve of our founding day.

[M091-02] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:25 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

I am hate to disappoint my speechwriters, so I promise to keep it to what their wishes, I will conduct myself again knowingly that I am here representing His Royal Highness, the Crown Prince, but I will have to say a few words as you all know me, I cannot contain the genie when the genie comes out. So to start with, I would like to welcome whom I call them, my true band of brothers, and please can you, in behalf of all of us as Saudis, of all of us, that we saw their attendance, their diligence, their cooperation to get us all through as OPEC Plus country. I have few of my friends here attending this event, so could I ask you, my friends, to stand up? Because we owe it to.

[M091-03] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:03:00 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

So I said, I am here in behalf of His Royal Highness, the Crown Prince in opening 14th Edition of the International Petroleum Technology Conference. I am especially pleased to be greeting you this year as, as we approach our founding day marking the foundation of the First Saudi State, which is 295 years ago, so it is not the wimp of a signature by UN resolution, it was not delivered to us by removing occupation, it was delivered by us for us. My gratitude goes to Saudi Aramco and the people that are working in Saudi Aramco for hosting the IPTC.

[M091-04] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:04:13 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

The distinguished guests and delegates to the IPTC theme this year is fueling global recovery through sustainable energy, which accurately reflect our thinking since the last time we met here two years ago, just as the pandemic was impacting our lives and the global economy. The Kingdom aimed to ensure the resilience of the 3 pillars of the energy world. I cannot stop repeating them because it will be with us for so many years to come. Allow me to repeat them, and do not forget that I kept saying them again and again. Security of energy supply, continued economic development through access to reliable energy sources and climate change.

[M091-05] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:05:14 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

All 3 pillars must be attended to without compromising one for the sake of another. To this end, we have taken a number of steps to reinforce the 3 pillars. In early 2020, the producing countries of OPEC Plus and some of the other Non-OPEC Producer came together in a unique example of cooperation and collaboration to organize the biggest cut of supply that ever been recorded in history, this achievement was successful in its aim, the unprecedented and dangerous plunge in global energy markets was halted, and since last summer, we have put in place a careful collaborated return of supply to meet the growing needs of the rebounding global economy.

[M091-06] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:06:24 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

But the pandemic and recovery underway has taught us the value of caution. A word that I know some people hate me for it, but heck, I will continue being cautious and the need to retain flexibility in our strategy, and adopt a long-term perspective. The frequency of the OPEC Meeting, OPEC Plus meetings demonstrates our commitment to transparently managing dynamic and unpredictable events. Meanwhile, a sharp downturn in oil and gas investment is jeopardizing energy security, as we see it today, and I have been warning about it for a few months, and there is a real risk that the world will not be able to produce all the energy needs to fuel recovery.

[M091-07] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:07:24 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

This has been compounded by uncertainty and conflicting signals in policy making in some parts of the world. The investment deficit is acting directly against the benefit of energy consumers, and creating challenges for policy-makers by leading to price increases and rising concern of supply shortages and certainly overall volatility. The campaign against new investment in oil and gas is short-sighted, in my belief, and is already having negative repercussions on the global economy recovery and household welfare.

[M091-08] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:08:13 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

This is why the Saudi Arabia, we in Saudi Arabia, we continue to invest in clean oil and gas, as Yasser was saying a while ago, and in expanding our capacity, which brings me to the second part of the theme that is pertaining to the quest for sustainability. The energy transition is accelerating, that is for sure, of that there can be no doubt, but focusing only on selected components of this transition, like renewable or alternatives alone, would be another big mistake.

[M091-09] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:08:58 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

Energy security demands that the world continue to pursue all energy options, including the hydrocarbon resources that have fueled the world economy and developing economies for centuries, but there is a challenge at the heart of this strategy how to increase supplies of hydrocarbon fuel while simultaneously seeking to reduce emissions of greenhouse gases? Certainly, technology is key to solving this challenge. Sustainability is a natural outcome of the circular carbon economy framework that the kingdom advocates, will continue to advocate and will continue to pursue, and we will take a lead and we will showcase the world that we can do it, and the rest of the world can follow.

[M091-10] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:09:54 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

But it has also been endorsed by the G20 leaders once again in Rome just last year. Technology is at the heart of the crucial, crucial innovation of the future, like the hydrogen economy, hydrocarbon sustainability, petrochemical and intelligent energy systems. Innovation technology will be vital as we all roll out the Saudi Green Initiative, which aims to generate half of our domestic energy requirement from renewable by 2030, and the ambition to reach net zero carbon emission by 2060, and if technology helps us, we can even achieve that ahead of that date. I should remind you that the net zero does not mean cherry picking, net zero does not mean zero oil.

[M091-11] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:11:00 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

Innovative technologies or techniques are already being applied in the field of direct capture, as Yasser was alluding to greenhouses and in the critical industrial processes of carbon cured concrete. I will tell you why Yasser was referring to it, because we have a wonderful program called Sustainability of Oil Consumption, and this program is being attended to and coordinated by the ministry. It encompasses almost 17 different government agencies, along with every company that can be a contributor be it a national or state-owned company, or even in collaboration with technology providers and technology developers.

[M091-12] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:11:57 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

We intend to go for one simple approach, prove and deploy, that is it. We will move, we will prove the technology and then subsequently deploy the technology. With that, we can, we do believe that we can take the lead, as you know, and as Yasser was saying when he gave a few examples on hydrogen, on carbon sequestration, on air capture, on also green hydrogen and definitely blue hydrogen. We have the enablers, we have the will, we have the capacity, we have the engineers, we have the program and we have the youth. Do not you ever underestimate the ambitious youth of Saudi Arabia today.

[M091-13] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:13:18 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

I have been a privileged person to work with thousands and thousands of young women and men of Saudi Arabia, I see their determination every day, I see their commitment every day, I see their exercise of will, of wanting to be something in the future and want to be the achievers of the future. So on behalf of all of them, for our guests here, I welcome you in the youthful Saudi Arabia.

[M091-14] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:14:04 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

And I could stand here for 10 minutes, and I could use all the adjectives that I can try, even try to explain. How much this youthful generation is in terms of being so ambitious, so determined, so resilient, so enthusiastic, so determined, so every word that you can think of, of what a generation can achieve, and what a generation can do, guided by the leadership in the name of the Custodian of the Two Holy Mosques King Salman and also by a youthful young Crown Prince who is leading all of these ambitions, and who is determined to make the future of this country a more green country, ambitious country.

[M091-15] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:15:17 · كلمة سمو وزير الطاقة في المؤتمر الدولي لتقنية البترول 2022 · 2022-02-22 · مشاهدة عند هذا التوقيت

Not inhibited society where we see ourselves today is in Riyadh. Riyadh is a city of joy today. Ryan is a city of everything that people can be mesmerized with. All what you need to do is to check when you were in Riyadh five years ago and walk around Riyadh today and see for yourself the true difference, and more important ask yourself, if this society delivered in less than 5 years what we have delivered today. Can you imagine what this country can deliver in 2030? I will leave it for you to answer. Thank you.