Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz outlined the Kingdom's ambitious plans to reshape its energy sector. The goal is to maximize the value of its resources, diversify the economy, and create jobs. During his speech at the Future Investment Initiative (FII) conference, the minister highlighted the Kingdom's decades-long commitment to energy development. This includes significant investments in natural-gas sector development and carbon sequestration, which have led to the establishment of major petrochemical industries, industrial cities, and the global giant SABIC. The country has also transitioned from liquid fuels to natural gas for power generation and seawater desalination. The Kingdom is poised to become a global hydrogen production and export leader. The minister emphasized the country's substantial hydrogen export capacity and its role in the corridor project, which aims to supply clean electricity and green hydrogen to the world market. The minister also discussed the Kingd om's pioneering energy efficiency initiatives, which have yielded significant results in a relatively short time. The National Renewable Energy Program (NREP) has seen remarkable progress, with the country achieving 44 gigawatts of renewable energy capacity and aiming for an additional 20 gigawatts this year. A massive geographical survey is underway to identify renewable energy sites, and significant investments are being made in gas-based power generation and carbon capture technologies. The Kingdom also is expanding its electricity transmission and distribution networks to ensure reliable and sustainable energy supply across the country. Source: Saudi Press Agency
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