HRH Minister of Energy Remarks at FMF 2023

[M102-01] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:03:00 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

Alsalam Alekom. Don't believe much of what Asena said about me. She's been a personal friend for 30 years, so she is already a vice person. Well, it's always good to be here in this event, and I've always looked forward to come again. I've been reprimanded by the team I work with that we write your speeches, we put all the right things to write messaging, and at the last minute you decide to abandon the good work that we put for you, and you end up in a clumsy way speaking your heads off, without being committed to the script that we have written for you.

[M102-02] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:07 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

So, they went into a serious scare mongering last night and this morning by saying: unless if you keep to the script, we shall never write you speeches anymore and let you fail and fail miserably before any audience you might speak to; so I've decided to behave, and follow the script, simply because I truly owed to the team, and the team in my mind is not just the energy ministry or energy ecosystem. It is also the tens and tens of women and men from different agencies, different setups, that have been working with us in galvanizing our way into the future when it comes to energy and how energy can become one of the most important enablers in bringing the other KPIs of the other sectors into reality.

[M102-03] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:38 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

So, with that script as I said, the first and most important anomaly here, I want to take this forum as another stage for us as Saudi Arabia to reconfigure our perception, the perception of Saudi Arabia. Saudi Arabia is, of course, a leading global oil industry, and we are well in the way to become a global leader in all forms of clean energy, encompassing hydrocarbons, renewable clean hydrogen to complement our traditional skills in oil and gas. The world is transitioning to becoming more sustainable, including in mining and in the energy sector.

[M102-04] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:03:37 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

And to that end Saudi Arabia is to become a global leader when it comes to clean production through the framework of the circular carbon economy. The sustainability production of minerals requires clean and efficient use of energy sources across the industrial process. In addition to clean hydrocarbons, we are developing new alternatives, new alternative energy sources, like I said, renewable clean hydrogen and a civil nuclear program. The Kingdom renewable program is among the most ambitious in the world, with the milestones developments in wind solar power in the Kingdom.

[M102-05] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:04:34 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

And I will tell you a lot about our export ambitions, when it comes to power and more profound, when it comes to hydrogen, clean hydrogen. We have launched the Saudi National Atomic Energy Project which we call it SNAEP to introduce its first nuclear energy program. Our crude oil is already among the least carbon intensive in the world, and we have invested significantly in projects for carbon capture utilization and storage. We just made a few announcements a month or so ago, and they will keep coming when it comes to clean technologies to manage the greenhouse gases. All new gas power plants in Saudi Arabia starting with a forthcoming tender on the 20th of January, Taiba and Qassim will become carbon captured enabled. Clean hydrogen is a focus of our investment, as I said, with the largest clean hydrogen hub in the world is planned in the Kingdom.

[M102-06] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:05:55 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

These ambitious programs will make the Kingdom a clean energy industry destination, with reduced footprint by enabling the companies to meet their sustainability objectives and develop their supply chain, notably in the mineral mining and metal sectors, and the expanding areas of sustainable materials where our chemical skills are put to good use. Today, we want to show you the great opportunities the Kingdom can offer to partners in this endeavor. As collaborators in the development of our natural mineral resources to help achieve sustainability, we are working in a seriously big ambitious localization program, and therefore localization opportunities.

[M102-07] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:07:02 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

The Kingdom - Thank God - has abundance of metals and minerals now greatly in demand in the world, and is developing the structure and the partnership that can exploit them to our best advantages. Saudi Arabia is committed to the development and securing the key metals and minerals needed for the localization supply chain and to pursue the goal of cleaner energy. This represents a clear opportunity to localize our supply chain. It also the Kingdom is enabled to plan not only to exploit minerals domestically, but also to hedge globally, to ensure the availability of strategic metals, the Ministry of Energy, in collaboration with the Ministry of Industry and Mining, and the Public Investment Fund and MAADEN are working to secure strategic supply chains of metals critical and rare earth elements.

[M102-08] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:08:28 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

Keep repeating the word clean ..clean, we were so excited that we would probably have it, not only but dry clean energy.

[M102-09] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:08:47 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

So, you will see maybe somewhere next door to the energy minister of some laundry shops. When it comes to renewable energy and clean hydrogen, the kingdom has set ambitions targets for its energy mix, as well as power export opportunities. The efforts will require large-scale deployment of solar, wind, battery storage projects across the Kingdom. Manufacturing these components will also create a demand search for minerals, like copper, aluminum, zinc, nickel, lithium and silicon. And let us, also, not to forget that Saudi Arabia will soon become home to electricity and other fuel efficiency vehicle manufacturers, which will depend on minerals and rare earth metals for many of their components.

[M102-10] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:09:53 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

Saudi Arabia also aspires to become a Global Hub for Green Metal Industries, such as green aluminum and green steel, which represent yet another opportunity for investments. On the nuclear program, The Saudi National Atomic Energy Project has two major components; the first is building the nuclear power reactors and the Kingdom which include two commercial large nuclear power reactors, this is the first. We want to make sure that we understand the technology before further expanding into that approach.

[M102-11] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:10:38 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

But the more important element is the second, which is trying to exploit our uranium resource that the Kingdom possessed. Recent explorations of activities showed a diverse portfolio of uranium in different location, within the kingdom such as Jabal Sa'ed, Al-Madinah Al-Munawarah and Jabal Jarir in the North. Along with uranium, rare minerals such as tantalum have been identified in a significant quantity in the Kingdom, unlocking even greater investment opportunities, so whoever is going to be working with us on uranium will have that accessibility to all of these.

[M102-12] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:11:45 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

I just gave one example of the other minerals, but there are quite a few. The Kingdom intends to utilize its national uranium resource, including in joint ventures with willing partners, in accordance with the international commitments and transparency standards for the entire nuclear fuel cycle, which involves the production of yellow cake, low enriched uranium and the manufacturing of nuclear fuel both for the our national use, and of course for exportation. We have a sustainability program, which is to how do we convert hydrocarbon molecules into other materials, as a way to diversify our own hydrocarbon uses from the traditional markets and traditional uses to new means of monetizing these molecules.

[M102-13] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:12:56 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

So Saudi Arabia will use hydrocarbon resources to produce more sustainable materials that will be used hand in hand with the metals to produce the components for the energy sector. They will also be localized for product, like solar panels, wind blades, as well as the equipment necessary for mining and metal industries.

[M102-14] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:13:25 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

We are here today to invite the mining industry to explore further the uses of polymer materials and to collaborate with us in this opportunity to reach out to our ambitious sustainability target. In all of the above, as many here would know, mining is a energy intense industry; which will require competitive pricing for its power sources. Saudi Arabia had a proven record in being the lowest cost energy producer and certainly uncompetitive pricing in tariff will make electrical power affordable and accessible to all industries, especially those who are energy intents.

[M102-15] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:14:30 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

And we have competitive tariffs that will allow this to make a somewhat glow, when it comes to comparison with others. Saudi Master Gas System enable consumers access to affordable and efficient energy, with many mining and minerals operation located near to a natural gas grid and gas field and operating their own power generation facilities from natural gas. We have a case to showcase in up north and they will keep coming; as I have been saying achieving sustainability in mining and minerals is a global effort, and we would like as Saudi Arabia take the lead on that, we would like to be challenged and continue to be challenged.

[M102-16] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:15:32 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

And we are hosting you here to make sure that every year, we can come back here and tell you exactly what we have done, exactly what we could not have done, where our ambitions are being attended to, how we succeeded in achieving them, and probably how we failed not to achieve them. But let me give you, if you allow me, because I owe it to them, I would do the most probably horrendous act before a public audience, and ask you not to believe me, and not to believe any other speakers that came before me or may come after me.

[M102-17] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:16:29 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

I would ask you to float around, go to the alleys, go to the streets, walk into the offices building, see the real energy of Saudi Arabia; it is the Youth of Saudi Arabia, it is the women and men that are making these things a reality.

[M102-18] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:17:03 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

And again, I will tell you, never bet on someone like me, but bet on the young people that have every reason to work hard and laboriously to achieve these goals, because I will not be there to see it, but they will be there to feel proud that they were part of the new Saudi Arabia, and they are the creator with our leader of the new Saudi Arabia.

[M102-19] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:17:36 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

So, I'd urge you, you know, keep the niceties for the others this way. Then, Bandar would not be upset with me that I caused the rebellion, but tonight make it an issue float around, you will see young women in Saudi Arabia fluent in so many languages, you will see them in their offices at night, you will see them abandoning their families and working hard to get this job done. You will see people that they're so polarized they don't know which is weekdays and which is weekends, because again the drive is the target.

[M102-20] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:18:22 · HRH Minister of Energy Remarks at FMF 2023 · 2023-01-11 · مشاهدة عند هذا التوقيت

And we are fortunate, truly fortunate, to have a leader, The King himself, and of course, the leader of The Vision 2030, whom we all know that if we put hours, he put more hours than us, if we are anguishing trying to achieve these goals, he's more anguishing and more adamant to achieve these goals, so if we can take him and his attitude and his performance as a cue, it becomes so burdensome for us, but not to meet his expectations. Thank you.