Qatar and Saudi Arabia signed an energy cooperation agreement on Sunday on the sidelines of the 27th International Energy Ministers' Meeting. This agreement covers the areas of oil and gas, petrochemicals, renewable energy, and technologies for reducing gas emissions.
The Need to Keep Energy Above Politics
Saad Sherida Al-Kaabi, Qatar's Minister of Energy and President and CEO of QatarEnergy, pointed out the necessity of establishing a new global energy order where energy is separated from politics and is never sacrificed or targeted by conflicts. He stated: "Energy security should unite us, not divide us; it must be protected, not turned into a weapon."
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Al-Kaabi also referred to the negative impact of regional crises on global energy security, stating that these crises have led to the worst energy crisis in the world and have a direct impact on the supply of about 20 percent of the world's hydrocarbon resources. He emphasized that many energy assets in the region have been affected, causing damages worth tens of billions of dollars.
Shared Responsibility in Protecting Energy Infrastructure
Al-Kaabi highlighted that energy security is highly vulnerable and inseparable from geopolitical security, stressing the need for necessary measures to protect energy infrastructure during times of crisis. He asserted: "This is a real problem where energy infrastructure has become economic assets and military strategic targets."
The Qatari Minister of Energy also mentioned the human costs of these crises, stating that over one billion people still lack access to electricity and about four billion people depend on food produced using manufactured fertilizers. He added: "The impact of this situation on people's lives should remind us of our shared responsibility to protect energy security and maintain the free flow of energy."
In conclusion, Al-Kaabi expressed Qatar's solidarity with Saudi Arabia, extending condolences to the families of the recent attack victims and wishing a speedy recovery to the injured. This meeting was held under the title "Energy Security - A Shared Responsibility: Market Principles, Supply Chain Resilience, and New Demand and Supply Dynamics."
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