Saudi Energy Minister: We Will Make Money From The Energy Transition

1 Nov 2024 Issue: 67 / 44 By: Jamie Ingram

In a bullish speech at the FII conference in Riyadh, Saudi Arabia’s Energy Minister made the case that the kingdom is better prepared than most to profit from the energy transition. Riyadh is investing in a multi-pronged energy strategy to do just that.

Saudi Arabia’s annual Future Investment Initiative conference is an invaluable opportunity for the kingdom to roll out the red carpet and bring global business and finance leaders to Riyadh. With Vision 2030 requiring vast sums of foreign investment to rewire the Saudi economy, this week’s FII was used to dazzle attendees with the scale of the opportunities on offer.

Amid the diversification plans, the energy sector remains the engine of the Saudi economy and will remain so for the foreseeable future. As such, Energy Minister Prince Abdulaziz bin Salman’s keynote speech on 29 October was a big draw for delegates. He didn’t disappoint, delivering a detailed overview of the energy sector and its centrality to Vision 2030 initiatives. (CONTINUED - 1822 WORDS)