Minister of Energy Stresses Importance of Establishing Investment Platform for Research, Development in the Field of Energy

Published 18 Jun 2019
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Minister of Energy Stresses Importance of Establishing Investment Platform for Research, Development in the Field of Energy

Karwizawa, Japan, SPA:
Eng. Khalid bin Abdulaziz Al-Falih, Minister of Energy, Industry and Mineral Resource of the Kingdom of Saudi Arabia, said, while addressing the closing session of the G20 Energy and Environment Ministers' Meetings here yesterday, that the establishment of a platform for large investments for research and development, in the field of energy, in order to reach to pioneer transforming techniques to face big world challenges would lead to major benefits and that such an endeavor would only succeed, if cooperation rather than competition should be its guiding principle.
In this regard, he recommended the launching of a global initiative for research, development and innovation and proposed the establishment of the first large center for this purpose, in Saudi Arabia.
Al-Falih stressed that access to affordable energy for all is one of the priorities of the Kingdom, pointing out that the G20 includes some of the world's largest producers and consumers of energy, making it a useful platform along with other important institutions such as the International Atomic Energy Agency, OPEC and IEA, to both producers and consumers, in order to work hand in hand towards global energy stability
The Minister of Energy, Industry and Mineral Resources expressed deep appreciation of the G20 energy and development ministers for their condemnation of recent attacks against a number of vital facilities, in the global energy supply chain, noting that maintaining energy security remains one of the main dimensions of the energy structure.
He thanked the Japanese Minister of Economy, Trade, Industry and Energy Seko Hiroshige for his hospitality and congratulated Japan on the success of the G20 deliberations during its chairmanship of the group, which presented discussions and recommendations to the most important problems facing the world today, focusing on a process of energy transformation characterized by realism, gradualism and inclusiveness
The Kingdom of Saudi Arabia will host the next session of the G20 Leaders' Summit, in Riyadh. The meeting will be the most important international economic forum to discuss the most important issues affecting the global economy.
The Kingdom is seeking ooperation with member countries to achieve the objectives of the group to find international consensus on the economic issues on the agenda, with the aim of stabilizing the world economy and prosperity and raise issues of concern to the Middle East and North Africa.
The summit will be preceded by a preparatory ministerial meetings hosted by the Kingdom.

Last Modified Date: 18/06/2019 - 6:05 AM Saudi Arabia Time


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