Aramco CEO and President, Amin Nasser called for serious action to be taken to face the escalating energy crisis. This was in his keynote speech on Monday at the 24th World Petroleum Congress in Calgary, Canada.
Nasser stressed that energy transition strategies should consider potential consequences if energy security and affordability are overlooked. He welcomed global leaders’ acknowledgment that realistic solutions are necessary for the transition phase.
He warned that phasing out conventional energy prematurely could put energy security and affordability priorities at risk.
“While much of the Global North is focusing on environmental sustainability, the priority for many in the Global South is economic survival”, he pointed out commenting on the risk related to global energy transition divide.
Moreover he accentuated the need for a “multi-source, multi-speed, and multi-dimensional” strategy that accounts for the complexity and scale of transitioning a $100 trillion global economy.