TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Reported by Ashen Tharaka
Gulf Cooperation Council (GCC) Secretary General Jasem Albudaiwi called for international collaboration to safeguard essential energy infrastructure and transportation networks from potential military and cyber threats, emphasising the critical importance of energy security.
Speaking at the IISS Manama Dialogue 2023, Albudaiwi emphasised that energy security cannot be attributed solely to conventional conflict, a lack of backup plans, or misguided narratives that energy resources can be replaced with fuels.
He asserted that investment in the oil and gas sector is essential and that the Gulf region remains a reliable oil partner for the world. Albudaiwi pointed to the GCC’s significant contributions during the Ukraine war, demonstrating the region’s commitment to global energy security.
He also highlighted the individual GCC countries’ ambitious plans for renewable energy development. Bahrain, for instance, aims to generate 5% of its energy requirements from renewable sources by 2025, as part of its Vision 2035 and Net Zero by 2060 initiatives.
The United Arab Emirates’ Energy Strategy 2050 targets a diversified energy mix of 44% clean energy, 38% natural gas, and 12% clean coal. Saudi Arabia’s Vision 2035 aims to achieve 50% renewable energy by 2030, while Oman’s Vision 2050 targets net zero emissions and positions the country as the sixth-largest exporter of hydrogen globally by 2030.
Qatar has set a target of achieving full renewable energy by 2030, and Kuwait aims to generate 15% of its energy requirements from renewable sources by 2035. He emphasised the urgent need to rectify the significant drop in oil and gas investments from 2014 to 2022, attributing it to policymakers’ decisions and the shift towards renewable energies.
lbudaiwi’s call for international cooperation in protecting the oil and gas sector underscores the critical role of energy security in ensuring global stability and prosperity.