As part of the China Development Forum, Saudi Aramco CEO Amin Nasser spoke about the future of Chinese-Saudi relations and supporting the nation’s sustainability goals.
While discussing the importance of sustainable energy sources, Nasser noted the need for “realistic roadmaps and practical priorities.”
Among those priorities are “developing new energy infrastructure, and fixing the technical and economic challenges new sources of energy face,” Nasser said.
“But, realistically, this will take some time since there are few alternatives to oil in many areas,” he added. “That is why we believe new and existing energy sources will need to run in parallel for quite some time to come.”
In order to support the Paris Agreement and to reach its goals, he emphasised the importance of working to “reduce the carbon footprint of these important existing sources of energy. It is an essential worldwide mission for economies and societies, and the future of our planet.”
He outlined three key areas of opportunity: ensuring the security of China’s energy needs for the long term; continuing investments into integrated downstream projects; helping China with its innovation, modernisation, and sustainability goals.
Aramco’s Research Centre in Beijing already works in China to develop cleaner engine-fuel systems of the future, catalytic crude to chemicals technology, and reducing and removing greenhouse gas emissions.
“…We have bolder ambitions to expand and intensify our research collaboration with China,” Nasser said.
“Additional collaboration is likely on blue hydrogen from hydrocarbon resources and low carbon products; blue ammonia; synthetic fuels; carbon capture, utilization, and storage; and materials science,” he added. “All of these are essential to achieving our long-term, low carbon ambitions.”
