VIDEO: Championing advanced materials at Energy Intelligence Forum
Company’s vice president of Energy and Economic Insights Musaab Al-Mulla discusses how to use them in different sectors to help reduce global emissions.
Musaab Al-Mulla, vice president of Energy and Economic Insights
Energy Intelligence Forum 2023
Energy transitions will not happen without material transitions. There is momentum when it comes to the future of polymers.
If you talk about Saudi Aramco, for instance, we have already put a plan to invest up to 4 million barrels per day by 2030 in liquids to chemicals.
The reality is energy transitions is a complex topic.
You need to consider multiple pathways. What will be the cost of these different pathways? And what will be the mot economical pathways in different jurisdictions between Global North and Global South?
Emissions is the risk component that we need to focus on reducing. However, carbon is not the risk; carbon actually has a value.
When you talk about moving this molecule from the source to petrochemicals to the materials that become in the car that the person is using.
If you talk about polypropylene that will replace the steel in the car, this is a value of carbon that needs to be recognized.
The starting point is having awareness about the importance of these new future materials, polymers based for the different sectors, as well as a substitution for hard-to-abate materials.
The awareness drives education and drives policymakers to understand the role of these materials in the energy transitions and then build basically a scale through the financing of the projects needed.
There is a lack of having, let’s say, one credible scenario globally that reflects the impact of the petrochemicals on the energy transition, as well as the critical mineral transition.