Saudi Arabia will not support plans to abandon oil and gas and invites the initiators to test their ideas on themselves. Saudi Energy Minister Abdulaziz bin Salman said this in an interview with Bloomberg.
“We cannot deceive ourselves and agree that the situation (on the world market) will become even worse. This is energy security,” the minister said of proposals to phase out fossil fuels at the COP28 climate summit in Dubai. Abdel Aziz bin Salman noticed that he did not like such ideas.
“We believe that carbon capture technology from oil is the right technology for the world. If someone thinks otherwise, I will not name the countries, then let them at least freeze their own production from January 1, 2024 and provide a plan to abandon fossil fuels,” the minister said.
According to him, it is necessary to combat climate change, and the best option is to mitigate the effects of global warming. Abdulaziz bin Salman told Bloomberg that Saudi Arabia is constantly improving oil production technologies and will implement major CO2 capture projects. The country is also already a leader in designing green electricity supplies.
As reported EADaily , on the eve of the main climate conference COP28 in Dubai, the UN published a report that the measures taken to curb global warming are not enough. Otherwise, the increase in temperature on Earth compared to the pre-industrial period will not be 1.5°C, but 2.5°C-2.9°C.
UN Secretary General calls for a complete phase-out of fossil fuels Antonio Guterres and dozens of international environmental organizations. In Dubai, the idea was supported by the head of the International Energy Agency Fatih Birol.
However, the idea of abandoning fossil fuels did not immediately find support among many countries. For example, 50 major national and private oil and gas companies, accounting for 40% of global production, have agreed to reduce methane emissions but have made no commitments to reduce production. And while such giants as ExxonMobil and Saudi Aramco put their signatures, Chevron and ConocoPhilips abstained altogether.
Vladimir Putin stated that in the foreseeable future there is no alternative to hydrocarbon fuel. A number of countries that accelerated the transition to renewable energy sources are now reaping the fruits of their mistakes, the Russian leader said at the BRICS summit, adding that the energy transition is necessary, but it must be carried out carefully, in a balanced manner, taking into account the characteristics of each country.
2023-12-05 07:53:00
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