Saudi Energy Minister Prince Abdulaziz bin Salman said at the opening of the 17th International Energy Forum Ministerial Meeting in Riyadh that his country would ensure energy supplies remained secure under all circumstances.
Abdulaziz bin Salman said Saudi Arabia would maintain its resilience in the face of challenges and stressed that his country’s resolve could not be broken. The meeting was held under the theme “Energy Security and Shared Goals in a New Era,” hosted by Saudi Arabia’s Ministry of Energy, with Italy and Nigeria serving as co-hosts.
Riyadh advocates continuity in energy security
The Saudi minister said they had succeeded in preserving the reliability of energy supplies, maintaining investments and preparing for different conditions and challenges. Abdulaziz bin Salman reiterated their determination to fulfill their commitments and remain on the path of progress.
“Each time, again and again, we are like a phoenix rising from our ashes,” Abdulaziz bin Salman said, describing Riyadh as the capital of energy security.
The minister said the East-West Oil Pipeline reflected a long-term approach aimed at strengthening the resilience of the energy system, adding that the pipeline provided an alternative route for transporting energy to global markets via Yanbu on the Red Sea coast.
Daily shipments of 5.8 million barrels through the oil pipeline
In a statement on Oct. 6, Abdulaziz bin Salman said 5.8 million barrels of oil were being pumped daily through the East-West Oil Pipeline. The statement was the first official announcement on the pipeline’s operating level after it was temporarily halted following attacks several weeks earlier.
The Saudi minister said energy security was not a goal that any single country could achieve on its own, stressing that it required effective international cooperation and coordination. Abdulaziz bin Salman said energy security was one of the fundamental elements of economic stability and sustainable growth, while vulnerabilities would put economies and their competitiveness at risk.
Comprehensive approach to security across energy sources
Abdulaziz bin Salman said Saudi Arabia had adopted a comprehensive approach to strengthening energy security that encompassed oil, natural gas, renewable energy, nuclear energy and geothermal energy, and brought this framework to the meeting’s agenda.
The meeting was also attended by Italy’s Minister of Environment and Energy Security Gilberto Pichetto Fratin and Nigeria’s Minister of State for Petroleum Resources Heineken Lokpobiri. International Energy Forum Secretary General Jassim Isa Al-Shirawi, along with energy ministers from various countries, industry executives and heads of international organizations, also attended the meeting.
Energy ministers and industry representatives expressed solidarity with Saudi Arabia and its people following attacks targeting civilian infrastructure. Participants said holding the meeting in Riyadh demonstrated Saudi Arabia’s resilience and a shared commitment to determination.
Headquartered in Riyadh, the International Energy Forum is described as one of the largest gatherings of energy ministers, aimed at advancing dialogue between energy-producing and energy-consuming countries and strengthening global energy security.
The meeting took place as regional tensions and disruptions in energy markets continued following the U.S.-Israel war that began in late February. The statement also said that the Houthis in Yemen, described as linked to Iran, had resumed attacks against Saudi Arabia in July.
