VIDEO: At IPTC, Amin Nasser discusses the shifting energy transition narrative
Aramco president and CEO highlights the importance of a diverse energy mix for the Global South’s long-term energy security.
Aramco president and CEO
International Petroleum Technology Conference 2024
The current energy transition narrative that we hear today is completely flawed, and it needs a complete reset.
We think oil and gas will continue to be part of the energy mix. We are investing in oil and gas, in renewables, in hydrogen, in carbon capture and sequestration.
All of these, we are investing in, because we think e need all sources of energy for the long term.
The current narrative is risking the security of supply and affordability. We need a transition that is orderly, just, and takes into consideration the economic maturity of different countries.
We need to invest in technology that will help us to reduce emissions from current energy sources, oil and gas, and at the same time, create solutions to reduce the cost for alternatives.
You need all sources of energy because the demand is shifting to the Global South.
What can we do to meet that demand while reducing our emissions and capitalizing on technology and innovation?
A lot of investment is happening while at the same time supporting oil and gas, but with less emissions; because the issue is emissions, not the source of energy.