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The State of Kuwait participates with a high-level delegation in the meetings of the IEF

18-02-2022

The State of Kuwait participated with a high-level delegation in the twelfth session of the International Energy Agency, the International Energy Forum and the Organization of Petroleum Exporting Countries (OPEC), as well as the seventh high-level round table meeting of the leaders of the International Energy Forum and the King Abdullah Petroleum Studies and Research Center. The State of Kuwait was represented in the two meetings by His Excellency / Eng. Khaled Walid Al-Din, Assistant Undersecretary of the Ministry of Oil for Technical Affairs, member of the Executive Council of the International Energy Forum, representative of the State of Kuwait in both the work of the twelfth session and the leadership round table, and the participation of the Governor of Kuwait in the Organization of Countries The Petroleum Exporting Countries (OPEC) Mr. Muhammad Khader Al-Shatti. The two meetings were held in the Kingdom of Saudi Arabia in Riyadh, on February 16 and 17, 2022, under the patronage and participation of the Saudi Minister of Energy, His Royal Highness Prince Abdulaziz bin Salman, in the presence of high-level delegations that included ministers and leaders from all over the world. The Ministry of Oil said in a press statement that Eng. Khaled Walid Al-Din reviewed, on the sidelines of his participation in the twelfth session of the International Energy Agency, the International Energy Forum and the Organization of Petroleum Exporting Countries (OPEC), the efforts undertaken by the State of Kuwait to reduce harmful emissions and polluting the environment, and the state's plans To achieve Vision 2035 in heading towards a prosperous and sustainable future by mobilizing all efforts to achieve sustainable development goals in expanding the use of clean and renewable energy, and emphasizing support for international efforts in this regard, taking into account the state’s participation in international efforts to achieve energy security, Emphasis on the status of global oil as a major source of energy. The symposium dealt with mechanisms for enhancing global dialogue on energy and improving policies and investment decisions to meet challenges related to energy security, market stability and global transformations called for by the Group of Twenty, through a presentation by OPEC and the International Energy Agency, of the latest expectations of the oil market in the short, medium and long term. Oil maintains its position as a major source of energy in the world. round table meeting On the other hand, the seventh high-level roundtable meeting of the leaders of the World Energy Forum and the King Abdullah Petroleum Studies and Research Center reviewed the views of a number of participants on investment in clean energy and development in the field of clean energy technology for the environment, as well as energy security, technology development, innovation and investment. Sessions focused on investing in clean technology deployment, advancing innovation, and modernizing infrastructure to achieve energy security, climate policy, and the Sustainable Development Goals, as well as protecting against non-market risks, such as extreme weather and cyber-attacks. The sessions also dealt with the increasing new climate and economic recovery policies from the momentum of investment in clean technologies, as successful transformations of the energy sector depend on how quickly the energy infrastructure develops to integrate new clean technologies in a cost-effective manner while continuing to provide reliable access to modern energy services for all. . The attendees stressed during the sessions the need for governments, research centers and the private sector to adopt intensified cooperation to improve risk management and recover from crises, as technological developments and investment in infrastructure need to be reorganized on a broader range of technologies and links to become more flexible and provide clean energy flows with greater flexibility in response to patterns Supply and demand are rapidly changing and more volatile, and the expansion of clean technology and modernization of legacy systems must go hand in hand to serve the increasingly complex energy markets.