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Saudi Crown Prince Mohammed bin Salman announced at the first Green Initiative Forum in Riyadh on October 23 that Saudi Arabia, as the world's largest crude oil exporter, aims to achieve net zero carbon emissions by 2060
Multiple measures to ensure the achievement of carbon neutrality goals
Multiple measures to ensure the achievement of the carbon neutral goal Multiple measures to ensure the achievement of the carbon neutral goalIn order to achieve the goal of achieving net zero carbon emissions by 2060, Saudi Arabia plans to implement more than 60 measures with an initial cost of nearly US$190 billion
According to data from Standard & Poor's Global Platts Energy Information Company, the current per capita carbon emissions of Saudi Arabia is 14.
Prince Abdul Aziz, the Saudi Energy Minister, said that Saudi Arabia is considering achieving the goal of net zero emissions by 2060, because most of the technologies required for the energy transition will not be "mature" until 2040
In terms of renewable energy, Saudi Arabia hopes that 50% of the electricity produced by its power sector will come from renewable energy, and the other 50% will come from more natural gas
He pointed out that the smart metering project launched by Saudi Arabia in February 2020 can add 127,000 smart meters per day even during the epidemic lockdown, and it will be completed on time on March 30 this year
Domestic petrochemical giant plans to achieve goals ahead of schedule
Domestic petrochemical giants plan to achieve their goals ahead of schedule Domestic petrochemical giants plan to achieve their goals ahead of scheduleSaudi Arabia’s state-owned oil giant Saudi Aramco and its 70%-owned Saudi Basic Petrochemical Corporation (SABIC) have set a net zero target in 2050
Saudi Aramco CEO Nasser said at the forum: “As the world’s largest energy supplier, Saudi Aramco is ambitious to achieve net zero greenhouse gas emissions in less than 30 years.
He pointed out that Saudi Aramco plans to increase natural gas production capacity in the next 10 years, which will enable the company to stop burning crude oil for power generation within 10 years and switch to natural gas for power generation
In terms of petrochemicals, Saudi Basic Industries CEO Yusuf Al-Bayyan stated that the company’s goal is to reduce greenhouse gas emissions by 20% by 2030 compared to 2018, and will focus on how to adjust the process.
