Energy & Utilities
From The Report: Saudi Arabia 2022
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As Saudi Arabia moves to diversify its economy and reduce its reliance on oil revenue, the energy sector is set to remain of paramount importance to future development. The Kingdom is positioning itself to increase its oil exports over the coming decade in a move expected to help the country maintain its role as a reliable and versatile global supplier in an increasingly uncertain market. State-owned energy firm Saudi Aramco is currently working to increase maximum production capacity from 12m barrels per day (bpd) to 13m bpd by 2027.

This chapter contains interviews with Turki Al Shehri, CEO, Engie Saudi Arabia; and Gregory Fayet, CEO, EDF Renewables Saudi Arabia.

Articles from this Chapter

Overview

Powering forward: Solidifying the Kingdom’s position in the global energy market through a combination of oil, natural gas and green initiatives
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As Saudi Arabia moves to diversify its economy and reduce its reliance on oil revenue, the energy sector is set to remain of paramount importance to future development. The Kingdom is positioning itself to increase its oil exports over the coming decade in a move expected to help the country maintain its role as a reliable and versatile global supplier in an increasingly uncertain market. Government-owned energy firm Saudi Aramco is currently working to increase maximum production capacity from 12m…

Interview

Capacity boost: Turki Al Shehri, CEO, Engie Saudi Arabia, on green hydrogen, energy efficiency and renewables
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Interview:Turki Al Shehri How do you assess the potential of green hydrogen as a viable energy alternative? TURKI AL SHEHRI: Green hydrogen has significant potential in Saudi Arabia, largely because the necessary infrastructure for it is already in place. The Kingdom exports hydrocarbons to many countries around the world, so, as such, the mechanisms and partnerships to export green hydrogen are already established. Technically speaking, transitioning from exporting hydrocarbons to green hydrogen…

Analysis

Boosting production: The authorities plan to increase investment in oil and gas supply to meet rising global energy demand
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Saudi Aramco is planning to boost its maximum crude oil production capacity to over 13m barrels per day (bpd) by 2027, up from 12m bpd as of August 2022. This is set to bolster Saudi Arabia’s position in global energy markets and afford the Kingdom greater agility under various possible energy transition scenarios. The expansion plan was announced in March 2020 and is expected to be delivered in phases. In August 2022 Amin Nasser, president and CEO of Saudi Aramco, announced capacity is expected…

Interview

Clear vision: Gregory Fayet, CEO, EDF Renewables Saudi Arabia, on support and opportunities for investment in green energy
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Interview:Gregory Fayet Which factors make Saudi Arabia an attractive destination for clean energy investment? GREGORY FAYET: Saudi Arabia’s energy transition started in 2017 when the country undertook projects in solar and wind power generation totalling 5000 MW. Looking ahead, the country has set ambitious targets in terms of reducing its carbon footprint and expanding capacity by developing low-carbon energy solutions. These goals are already generating positive results. There are three…

Analysis

Powering the transition: Hydrogen holds promise for sustainable energy in the Gulf
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With hydrocarbons-rich countries in the Gulf increasingly looking to reduce their carbon emissions, some in the region are turning to multi-coloured hydrogen as a more environmentally sustainable solution. Along with renewable sources like solar and wind, hydrogen is regarded as a potential low-carbon or zero-carbon fuel that is key to the transition away from fossil fuels. However, different types of hydrogen have different impacts on the environment. Blue hydrogen is created when natural gas undergoes…

Analysis

The long game: Impact of rising global oil prices on the shift towards renewables
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After opening 2022 at around $78 per barrel, Brent crude oil prices rose sharply over the next few months to surpass $127 on March 8 – the highest price in 14 years, driven in part by Russia’s invasion of Ukraine – before moderating slightly to around $106 as of mid-March. Although investment in oil and gas has fallen by about 30% since the outbreak of the Covid-19 pandemic, there are signs that increased demand and the rise in prices could lead to a reversal of that trend. Carbon Tracker,…