Building a low carbon downstream business

As physical conferences return following a two-year absence, Aramco Europe joined discussions at this year’s Energy Sustainability Forum in Berlin, with decarbonisation high on the agenda.

Aramco Europe CEO Ahmed Alkhunaini, sharing a panel with both regional and subject matter specialists, emphasised on the broader factors associated with low carbon initiatives. “The world’s energy system will take time to transform. It will also require significant investment. Aramco is fully committed to a net-zero economy,” he said. “Energy security, economic development, and affordability imperatives are not always mentioned in this context, still they are very important and need to receive attention.”

The CEO also highlighted the need for energy delivery to remain both affordable and stable while a transition takes place. Indeed panel discussions, moderated by Wood Mackenzie vice president Alan Gelder, looked at various routes to decarbonisation like the circular carbon economy, the production of low carbon products and leveraging non-combustible uses of crude, such as nonmetallic materials.

Contributing to discussions, Alkhunaini also touched on an energy transformation requiring thousands of mega and giga transition projects, across multiple sectors. This would see unprecedented design, engineering and implementation challenges, with a reliance on technologies that are not yet mature or do not even currently exist. Indeed, all energy sources are needed for a successful transition, and to achieve a secure energy future.

“We are on a journey. This is not about changing or delaying our climate goals. We at Aramco, and our partners and peers across our industry, are fully committed to a net-zero economy,” said Alkhunaini when closing. “All of us have a vested interest in the ultimate goal of limiting temperature rise to well below two degrees. It is about how we get there.”