Saudi Gazette report

BRASILIA — Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, stressed the importance of achieving a balance between economic growth, energy security, and climate change mitigation.

He made his remarks during his participation in the Energy Transitions Working Group meetings, the 15th Clean Energy Ministerial, and the 9th Mission Innovation Ministerial, held on October 3 and 4 in Foz do Iguaçu, Brazil.

The minister highlighted Saudi Arabia's leadership in Carbon Capture, Utilization, and Storage (CCUS) technologies, reiterating the Kingdom's commitment to leading global efforts through its adoption of circular carbon economy technologies.

Prince Abdulaziz reaffirmed the Kingdom’s ambition to become a global leader in clean energy production and export.

He pointed to the Kingdom's growing renewable energy capacity, which is projected to reach around 44 gigawatts by the end of 2024, and discussed plans for a hydrogen production hub in Ras Al Khair Industrial City.

He also mentioned a large-scale carbon capture and storage project, set to have a capacity of 9 million tons annually by 2027.

The discussions at the forums centered on sustainable energy policies and the promotion of equitable energy transitions, in line with G20 efforts to enhance international collaboration, drive environmental sustainability, and support advancements in clean energy technologies.