Saudi Green Initiative Forum
VIDEO: CEO discusses the unique role we play in ensuring an uninterrupted supply while contributing to decarbonization
“We need to decarbonize existing resources and at the same time build the new.”
Amin Nasser, Aramco president and CEO
Saudi Green Initiative Forum 2023
We are investing in the new: renewables, hydrogen, e-fuels, and all of that.
But still, you need a lot more investment and it needs to pass certain thresholds in order to make it commercial for the market.
Hydrogen now is waiting for the demand; demand is still not there for an obvious reason: it is expensive.
But at the same time, we need to continue to invest in oil and gas because there is more demand.
Today, we have the lowest methane and CO2 emissions globally. And we drove that down not because our oil is much better than other oil. It is because of all the efficiency and the system that we installed.
We will continue to drive that down.
We are putting metrics to reduce our emissions from existing systems; we are building the carbon capture and storage that will help us also to meet that.
We need to decarbonize existing resources and at the same time build the new. We need to take care of all stakeholders in terms of making sure that we provide affordable, sustainable, and secure energy for the whole world.