Arab News, Sunday, Oct 24, 2021 | Rabi Al-Awwal 17, 1443
Saudi Aramco aims to become net zero energy producer by 2050: CEO
Saudi Arabia: Saudi Aramco will
become a net-zero carbon energy producer by 2050, said CEO Amin Nasser on
Saturday.
He was speaking at a session organized as part of
the Saudi Green Initiative Forum in Riyadh.
The Aramco chief said the oil company will replace
crude burning for power with natural gas in 10 years.
“We understand the road will be complex and the
transition will have challenges. But we’re confident we can meet them and
accelerate our efforts to a low-emission future.”
He stressed the need for an orderly energy
transition by taking a holistic view of the entire scenario.
Nasser said the world needs inclusive energy
policies to avoid any crisis.
The Aramco chief said the oil company is investing
heavily in research and development. “We have 12 research centers across the
world.”
He said the focus of all our research facilities
is to address climate change and find sustainable solutions.
ACWA Power
Earlier, the head of ACWA Power, Saudi Arabia’s
only listed company with ambitious renewable projects, revealed his companies
plans to end investment in non-renewable schemes to achieve net zero by 2050 in
an
exclusive interview with Arab News.
Paddy Padmanathan, chief executive of ACWA Power,
which floated on the Kingdom’s stock exchange earlier this month, told Arab
News: “We want to reduce carbon emissions, because climate change is real. We
can see it, we can feel it.”
The company is expected to deliver at least 70
percent of Saudi Arabia’s renewable schemes by 2030, and is forecast to take
part in around $30 billion worth of green projects over the next 10 years, as
the Kingdom’s strategy to diversify its economy away from fossil fuels gathers
pace.