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

14:49 03.02.2021 5345

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.

Other articles
More than 24,000 tons of motor gasoline were sold to the foreign market at exchange auctions

On Monday, January 30, 9 transactions worth over $19 million were concluded at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan, Orient reports.

Anniversary Annagul Gurdova

The 70th anniversary of the People's Artist of Turkmenistan Annagul Gurdova was celebrated in the Cultural and Business Center of the State Concern «Turkmengas».

Oil and gas production department “Gumdagnebit”: 330.5 thousand tons of oil were produced in January-July

For seven months of this year, specialists of the Gumdagnebit oil and gas production department of the Turkmennebit State Concern produced and sent for processing 330.5 thousand tons of “black gold”, which amounted to about 112% of the production plan for this period.

Turkmenistan fully repaid loans from China allocated for the implementation of gas projects

Turkmenistan has fully repaid loans to China allocated earlier for the implementation of gas projects. This was announced by Vice-Chairman of the Cabinet of Ministers Shakhim Abdrakhmanov at a government meeting, which President Gurbanguly Berdimuhamedov chaired last Friday via video communication system.

At the auction, fuel and energy products were sold to the foreign and domestic markets of the country

58 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.