Saudi Gazette report

RIYADH — Minister of Energy Prince Abdulaziz bin Salman said that Saudi Arabia is rapidly progressing through energy transformation phases and it is benefiting financially from this transformation. Addressing a dialogue session at the fourth Saudi Green Initiative Forum in Riyadh on Tuesday, he noted that Saudi Arabia is living in the "energy transition" phase instead of just talking about it. "Replacing one million barrels of oil with gas and renewable energy is a remarkable achievement," he said.

Earlier on the day, Prince Abdulaziz inaugurated the SGI Forum, which is being held on the sidelines of the 16th session of the Conference of the Parties to the United Nations Convention to Combat Desertification (COP16) that kicked off in Riyadh on Monday.

Saudi Arabia scores new achievements every year, Prince Abdulaziz said while highlighting the pivotal role of youth in promoting the progress of environmental and climate initiatives and building a better future for all. "Ensuring energy security is essential to ensuring sustainability, and that the issue of energy security cannot be neglected in the transition process," he said.

Referring to the achievements of Saudi Vision 2030, he said: "We have more achievements and initiatives, and we will continue to work to support the circular economy. We are the only country on the planet that makes money from the energy transition, and we are taking steps according to studies and in cooperation with partners in a number of fields, including renewable energy, petrochemicals, and others."

Prince Abdulaziz said that Saudi Arabia is open to anyone who wants to visit and cooperate with it. "Empowering Saudi women is one of the achievements that I am proud of," he added.

The fourth edition of the Saudi Green Initiative Forum, with the theme “Action is in Our Nature,” will conclude on Wednesday.