High-Level Dialogue on Industry Decarbonization

[M118-01] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:00:00 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

What you have said the remain is leftovers for me. But I would just want to make sure that we're driven by, again I would keep repeating it, that's why you would see me rotating around the rooms. Circular Carbon Economy concepts make you rotate around the rooms, it gets you to do a lot on reduce, it does let you do more on reuse and Recycling and Remove. And therefore, Carbon sequesterization is a main pillar for us, as a hydrocarbon producer, to really walk the talk, because without which I think we are just putting, as I said earlier, a PR stunt as opposed to trying to put forth an exemplary act, upon which one can build the case.

[M118-02] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:17 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

That the world required all sorts of energies, including those that have not yet been invented, that we stand a better chance collaborating collectively at all levels in attending to the mitigation issue, primarily because it is the one that would attend to climate change. And we will target all greenhouse gases, using every tool in the kit that is in existence today. We're collaboratively to bring about new tools to that kit, because the world requires to attend to these three dilemmas' issues that it has been daunting on everybody.

[M118-03] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:14 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

And I have to say it especially, when I'm in India that whatever we do, we really have to be watchful on issue of energy security, attend to energy poverty and make sure again that we attend to climate change. None of these can be sacrificed against the two others. No one of them should be more supreme. The three have to be attended to, simultaneously, because I honestly believe without energy security, without economic sustainability and attending to energy poverty, I fail to see how can we achieve what we are all aspiring for in terms of achieving and attending to climate change.

[M118-04] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:03:14 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

This is not a speech about going around the bushes, it is about making it as good as it gets, as clear as it gets. We need that green serious look at a real mirror. What we are doing now! what we will do in the future! It is not a race about who fares better, because climate change is a global issue. Whoever fixed his part of the world should not rest asleep, because it could come to you from a different part of the world. So, what we are doing with regard to decarborizing, we're doing all of the above. Physically, we're spending money on a hub that will handle, as a first stage somewhere around 9 Million Tons every two hours, and will go to about 44 Million Tons by 2035.

[M118-05] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:04:22 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

This is not the end of our exploration, it will be one and hopefully amongst more if we need to. We're working on air capture, because we want to do the whole thing complete. We will do carbon sequester initiative and sequesterization in the Eastern Province, because we have the right aquifers. And they are not always reservoirs, no they are naturally created aquifers. And by the way, we are in talk with the UAE, we shared it this idea that we have such amount of aquifers, empty aquifers. Again, lucky we are gifted, so we're winning to open the idea of warm open to the idea that if people would like to export their CO2. We will host that CO2 and we look after it and deposit it in an empty aquifer, which could have stayed there for the rest of until the end of Judgment Day.

[M118-06] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:05:25 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

So , we might as well make it .. make use of it, if it is going to be used in the western side of the country, because we don't have these facilities, and we don't have this natural gifts. We're talking about as Your Excellency were saying sequester and utilize. And we have the CEO of SABIC here, Abdulrahman, he can tell you exactly what we are doing with CO2. The sequesterization also, in case people don't know about it, if you have got the methane, and if you have they got the sequesterization, you really can move and produce clean hydrogen. Clean Hydrogen would be a third of our aspirational goal, when it comes to how much we could produce of hydrogen, blue hydrogen, blue, but now we're gonna call it clean, because it is green, it is polished, it is clean.

[M118-07] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:06:29 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

So, we do a lot of that's why, you know, we bond a lot with our friends from India, because we address the same question. But people need to be relaxed. I need to be attentive, which is so easy to pull out, you know I put a, you know a PR, understand it is always nice to have some kind of, you know, a flurry statements. And it is not nice to try to categorize people; the faithful, the unfaithful, the half-cooked faithful, which is somewhere in between. And when people need to be moved. I think it's ..it's, it is an issue that needs to be honestly attended to, carefully attended to. We cannot again do all of the above alone, no one can do all of the above alone. Commenting I just finished the hydrogen event.

[M118-08] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:07:41 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

I asked that if we can host an event on hydrogen, that would campus governments, stakeholders of all the bits and pieces of the value chain, of the private sector, technology developers, off takers, whatever it takes, we need time, exhibitors to exhibit their technologies. We need to bond! we cannot afford working in silos. If I ever succeed in doing anything in this event, I'm just trying to trigger people mind. Think again, none of these global Issues will be attended to, but through Global Solutions, without which we will end up being in silos. Silos never helped the world, silence will never deliver. So, as focusing on one source of energy, and without which we cannot think. I don't think it is the right approach, we will not do it. But we want to prove to the world that we will be a country to reckon with, when it comes to Greeen Hydrogen, when it comes to Clean Hydrogen, when it comes to our own energy mix. We will put effective even, next year. We'll be.. We have tendered 15, 16 Gigas Energy. This year and last Autumn, by the end of this year, last in 2022. We will go 20 Giga, a year, expected 24.

[M118-09] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:09:30 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

Check our tenders, we have committed ourselves that no conventional gas utilities will be built without a commitment to that it would be a sequestered. Check our tenders. It is not a fancy speech, it is out there in the open and you could check it. we want to be the exemplary hydro responsible, hydrocarbon producer, because we have been. And I would like you to check our number, in scope one, scope two. We stand to compare ourselves with the who is who, when it comes to lower CO2 remission, when it comes to methane emissions. So, if we are to be challenged, we can do collectively a validation process, whereby I can guarantee you that some faces will be pale, compared to what we will show, as Saudi Arabia.

[M118-10] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:10:38 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

So, We, I believe are Number One, when it comes or Number Two when it comes to CO2 emissions, per barrel, not per capita. And on a BTU-basis, we're Number Two, actually isn't even in Methane, including the new number of the IEA which is erroneous. And we are gonna be with our friends from France, using French technology to prove that KAPSARC had attended to, to prove to them that they were wrong. And we are still Number Two, when it comes to methane emission, maybe Second or Third, but certainly it is only Denmark and Norway ahead of us. So if this is not, you know, doing what you're preaching, I don't know.

[M118-11] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:11:34 · High-Level Dialogue on Industry Decarbonization · 2023-07-21 · مشاهدة عند هذا التوقيت

Again, I'm sorry for taking so much time that this is near and there to us. We are working also in carbon capture, so we're doing all of the other, because again our story would be and will continue to be that we will demonstrate that we are doing all of the above, the whole world need to do all of the above. Thank you