Saudi Arabia develops new supply lines
Prince Abdulaziz bin Salman, the Saudi Minister of Energy, affirmed that Saudi Arabia is working on developing additional pipelines to provide alternative routes for energy exports, such as the East-West pipeline, to ensure the continuous supply of oil to global markets. He emphasized that the kingdom will not allow any party to hinder its efforts and is undertaking proactive investments to strengthen the reliability of supplies and market stability. He also stressed that energy security requires diversifying sources, including oil, gas, renewable energy, nuclear power, and geothermal energy. He warned that an excessive focus on carbon neutrality could threaten global energy security, pointing out that oil price fluctuations—such as its fall from $140 to $35 in 2008—illustrate the risks of instability. Additionally, he clarified that the kingdom continues investing in the refining sector and expanding international partnerships with China, the United States, and Korea. He reaffirmed that achieving energy security is a shared global responsibility, warning that neglecting it could widely threaten the economy.
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