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Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman al-Saud said that transition to clean energy from fossil fuels is a very complicated process and the world needs to be flexible in order to avoid sacrificing energy security. The minister said he is worried about the energy transition process and the process needs to be thought thorugh carefully.
He said, “It may end up being a leap into the future, unfortunately, an unknown future. We should not forfeit energy security for the sake of a publicity stunt. That transition needs to be a well-thought-of transition.”
“Let me be very specific about it, we do have a huge amount of uranium resources that we would like to exploit and we will be doing it in the most transparent way, we will be bringing in partners. Our business model would enable us to do that we are very open to every opportunity that comes our way and every technology,” the minister added.
Saudi Arabia would publish its energy strategy and it will work towards becoming cheapest producer of green hydrogen.
“We have the foresight to put together through our champion in minerals, Ma’aden, a subsidiary company that will be developed very soon to venture abroad with partners,” he concluded.