Business · Energy & Commodities · 2 hrs ago

Saudi Arabia says it will continue energy plans and build backup pipelines

Saudi Arabia says it will continue energy plans and build backup pipelines

Saudi Energy Minister Prince Abdulaziz bin Salman said the kingdom will continue its Vision 2030 plans regardless of circumstances.

Speaking at the opening of the World Petroleum Congress in Riyadh, he said the city remains safe and a center for energy.

He said energy supplies cannot be taken for granted because global markets face challenges that are difficult to predict.

Saudi Arabia has invested in energy supply networks and infrastructure over many years, and he cited the rapid repair of the East-West oil pipeline as an example of preparation for disruptions.

The kingdom is also developing additional pipelines to create alternative routes for energy exports.

The minister said Saudi Arabia will keep developing technologies to reduce emissions while using different energy sources to meet development needs.

He also argued that a reliable energy transition should account for differences in countries' needs and economic conditions.

Sources

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