Saudi authorities announce plans to reorganise energy sector

Minister of Energy of Saudi Arabia Prince Abdulaziz bin Salman bin Abdulaziz spoke about the prospects of transformation of the fuel and energy complex of the kingdom. This is reported by Saudi Press Agency (SPA).

The priority goals will be the efficient use of natural resources, diversification of the economy and creation of new jobs. 

He emphasised that the kingdom has been paying attention to attracting investment in the energy sector for decades. In particular, large petrochemical production facilities and industrial clusters are being created. The country has also abandoned the use of liquid fuels in favour of natural gas in the production of electricity and desalination of sea water.

The Minister also recalled the significant potential of the State to export hydrogen, which is an environmentally friendly fuel and source of electricity.

In addition, Saudi Arabia is currently conducting extensive surveys to identify sites for the construction of green energy facilities. The Kingdom is also expanding the electricity transmission and distribution networks to ensure a reliable and sustainable supply for the entire country.