Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) is doubling down on Asia’s growing demand for energy and chemicals, in addition to advanced materials, lubricants, and new lower carbon energy, President and CEO of Aramco, Amin Nasser, commented on the company’s strategy in Asia.
Aramco’s approach in the Asian market is backed by game-changing technologies “doubling down on these needs by being Asia’s ‘one-stop source’ that also aims to balance energy security and affordability with environmental sustainability,” Nasser elaborated.
Calling for greater Asian influence in the energy transition debate, the CEO hoped for Asia to take on a more prominent role in shaping a pragmatic, orderly, and inclusive global energy transition.
The remarks came during Nasser’s keynote speech at the Energy Asia conference at Kuala Lumpur Convention Center in Malaysia on 26 June 2023. He further urged regional countries to adopt approaches that reflect their unique priorities.
The Saudi oil giant’s official pinpointed the opportunity for Asia to be more vocal about the energy transition, saying: “When it comes to the energy transition, I do not believe the interests of this dynamic region are being adequately reflected in the popular energy transition narrative and current transition policies.”
Nasser added: “Existing transition policies rightly attempt to address environmental sustainability. However, the equally critical issues of energy security and affordability are under-emphasized [...]. I see this as Asia’s great opportunity to speak louder and more clearly about its unique transition priorities. Asia’s transition voice should match its economic voice.”
Regarding Asia’s future outlook, Nasser said: “If we can bring our combined strength to bear on a new approach to energy transition that reflects Asia’s unique priorities, we can deliver the energy future that its economies and people deserve.”
It is worth noting that Aramco jointly with TotalEnergies unveiled contracts for the $11 billion Amiral complex of the listed firm’s unit Saudi Aramco Total Refining and Petrochemical Company (SATORP) refinery in Saudi Arabia.
In September 2022, Aramco’s CEO urged policymakers and every stakeholder worldwide to unite around a much more credible new energy transition plan.
