Saudi’s King Abdullah Petroleum Studies and Research Center (KAPSARC) and the International Energy Forum (IEF) recently co-hosted the seventh ‘Thought Leaders’ Roundtable’ in Riyadh, with an aim to achieve energy security.
Experts from Saudi Arabia and all over the world came together to discuss how the world can foster investment in clean technology deployment, advance innovation, and modernize infrastructure to achieve energy security. The forum also conducted discussions on how we can overcome climate change and accelerate the energy innovation drive.
According to Mr. Fahad Alajlan, President of KAPSARC, the collaboration between research, advisory, and think tank institutions and governments, supports the role of the organization to make the right decisions to shape the road towards sustainability.
Mr. Alajlan stressed that if the final consumers don’t find the advantages of renewable energy in their bills, we need to find solutions through technologies and innovations to allow electricity prices to fall as renewables increase their shares in the power mix.
KAPSARC President also highlighted the new vision of the center to become an advisory think tank within global energy economics and sustainability providing advisory services to entities and authorities in the Saudi energy sector.
Mr. Alajlan stated that, “Focusing on innovation and technology can help in reaching energy security and facing climate change. The collaboration between research, advisory, and think tank institutions and governments support our role in informing policymakers to make the right decisions.”
In addition to how integration between hydrogen, CCUS, small modular nuclear reactors, and other clean technologies can reduce market barriers and costs, speakers discussed which technologies are offered in different market settings, and market and government solutions to scale clean technologies and accelerate investment.
KAPSARC’s advisor to the board of trustees, Mr. Adam Sieminski highlighted the benefits of advancing technologies and creating carbon markets to reach net-zero carbon.
The roundtable included three sessions on how to find low carbon solutions to enable energy security, move innovation, advance energy technologies, control energy transformation and modernize energy infrastructure.
KAPSARC is an advisory think tank that seeks to advance Saudi Arabia’s energy sector and inform global policies through evidence-based advice and applied research.
The International Energy Forum (IEF) is the world’s largest international organization of energy ministers from 71 countries and includes both producing and consuming nations.