Saudi energy minister said OPEC will not change its …

(MENAFN- Trend News Agency) OPEC will not change its strategy, and it does not have to solve a problem it did not create, Saudi Energy Minister Prince Abdulaziz bin said Salman, on Asharq channel in a television interview, reports Trend citing Al Arabiya.

The Saudi minister stressed that there must be a regulator for the markets, adding that everyone must be aware of what OPEC has done to achieve this regulation.

The Saudi Minister of Energy said the shortage in the gas supply market is the result of policies that have been taken before, including the decline in electricity production from gas.

“As a result, investments have declined, causing a shortage in gas markets today,” added the minister.

Prince Abdulaziz said in the interview that Saudi Arabia’s zero carbon goal can be achieved before 2060.

“This objective will not have an adverse financial or economic impact in the Kingdom. Saudi Arabia aims to be a trusted source for all forms of energy. We have the capacity to produce and integrate new forms of energy into Saudi Arabia’s economy and exports, ”the Minister added.

Prince Abdulaziz added that investing in clean energy does not mean stopping investments in oil.

“The aim is to reduce emissions, not to reduce the use of oil,” added the Saudi minister.

“There is no contradiction between investing in energy and taking care of the climate. The world cannot live on a single source of energy, or even a few sources, but the world needs all available sources of energy, ”added the Minister.


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