Saudi Arabia intends to transfer electricity to renewable energy sources and gas by 2030, freeing oil for export

09:49 03.02.2021 4301

Saudi Arabia plans to transfer 50% of its energy to gas by 2030, the rest to renewable energy sources (RES), said the country's energy minister, Prince Abdulaziz bin Salman during the Future Investment Initiatives forum in Riyadh, Interfax reported.

"We will be the second Germany in terms of renewable sources," he said.

The kingdom has previously announced ambitious plans for solar power generation.

As a result, the prince noted, the use of oil will decline, and the kingdom will have more opportunities to export it.

Saudi Arabia is also implementing and plans to continue implementing energy conservation programs.

Currently, Saudi Arabia ranks third in oil production in the world, producing after cuts under the OPEC + deal 9 million b / d, exporting about 6 million b / d, against 11 million b / d in October 2018, when exports exceeded 7 million b / d.

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