Abdulaziz bin Salman: Programs to diversify utilization of oil and gas

The Minister of Energy – Prince Abdulaziz bin Salman said that the ministry has several programs aimed at diversifying the utilization of oil and gas for the purpose of producing new industries, stressing that there is no reliance on current uses .. He explained in a press statement yesterday that these programs include an energy mix program between renewable energy and gas. And programs to rationalize energy consumption, in addition to the global oil demand sustainability program, which will be converted to uses completely different from what is in the current markets, and he stressed that the purpose of these programs is economic diversification and moving away from oil as a main source in the energy sector.

According to the President of the King Abdullah City for Atomic and Renewable Energy, Khaled bin Saleh Al-Sultan, the Kingdom is working within the framework of Vision 2030 and the National Transformation Program 2020 AD to build a sustainable renewable energy sector that includes industries and services, localization of technologies and the qualification of human cadres, with the need to find a balanced mix of energy through the introduction of energy sources Renewable energy within the national energy mix to achieve growth and prosperity and enhance energy security, and include solar energy, wind energy, geothermal energy, and waste-to-energy conversion. The Kingdom committed to creating a competitive local market for renewable energy and provided the necessary financing through partnerships between the public and private sectors, and while the Kingdom embarked on implementing 10 renewable energy projects, the total allocations for this sector amounted to between 30-50 billion dollars until 2030.

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