Saudi energy sector developments within the energy transition process: Strategies and geopolitical impact

Abstract

GUID: 2594125B UNITN: 224994 CUID: 76781368 Saudi Energy Sector Developments within the Energy Transition Process: Strategies and Geopolitical Impact Abstract The energy transition pathway is redesigning the whole global energy sector thereby entailing significative implications for the global geopolitics and geoeconomics. Since the transition aims to achieve the decarbonization of the energy sector, resource-rich regions with a strong dependance on oil revenue must address several challenges to cope with such a phenomenon. In particular, the Middle East and North Africa countries and oil producers need to rethink their strategy in order to adapt to a low/zero carbon emissions production. Some positive signals are given by the great potential of Middle East and North Africa countries for renewable energy sources, with some countries leading the pathway towards different ways of producing energy. Saudi Arabia, for instance, has started developing projects aimed at enhancing sectors and methods such as hydrogen, Carbon Capture and Storage (CCS) and renewable energy. Due to the high number of Saudi resources and the expertise of producers such as the national company Aramco, Saudi Arabia has outlined a grand strategy for the years to come. However, the outcome of this transition and its major consequences in...