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FinancialNews
13-03-23
Aramco CEO assures importance of Affordability, supply security in reaching net-zero
(MENAFN) As reaching net-zero greenhouse gas emissions main priority on the worldwide agenda, the head of the world’s largest oil producer Saudi Aramco stated that the energy transition is going to occur solely if affordability, security of provisions and sustainability are being guaranteed.
Referring to carbon capture as well as storage, Aramco leader and chief executive Amin H Nasser stated that the firm is attempting to create one of the world's largest center for carbon capture and storage. "But we need to scale carbon capture and storage globally. Without scaling, you cannot achieve your net-zero target. Hopefully, I am confident that with technology and with innovation, we will be able to do that.”
“We are heavily investing in technology. We have 12 global centers, most of those work on sustainability. Material transition is critical for Aramco and others, because, without material transition, it will be difficult to achieve the aspirations of climate change,” he informed Arab News.
He continued: “Aramco is heavily involved in different sectors to reduce the costs. Green hydrogen and blue hydrogen are expensive for the market. So, we are looking at how can we reduce the cost of time, and how can technology help to reduce the cost and make the transition affordable.”
MENAFN13032023000045014228ID1105759983
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