Saudi Arabia Reaffirms Energy Supply Commitments Amid Market Disruptions
“like a phoenix; we rise from the ashes every time, again and again, and no one can break our resolve.”
The minister made the remarks while opening the 17th International Energy Forum Ministerial Meeting (IEF17) in Saudi Arabia. The gathering was hosted by the Kingdom’s Energy Ministry and co-hosted by Italy and Nigeria under the theme Energy Security and Shared Goals in a New Era.
The meeting took place against a backdrop of regional tensions and disruptions to energy markets following the outbreak of the US-Israeli war against Iran in late February and the resumption of attacks by Yemen’s Houthi group against Saudi Arabia in July.
In his opening address, Prince Abdulaziz highlighted the Kingdom’s continued ability to maintain dependable energy deliveries, invest in its energy infrastructure and prepare for a range of potential challenges.
“the Kingdom has demonstrated its ability to ensure the reliability of energy supplies, continue investing, and remain prepared to face various circumstances and challenges.”
He reiterated that Saudi Arabia would continue honoring its commitments despite difficult conditions, stressing that external pressures would not derail its development plans.
"everyone now recognizes that the Kingdom is capable of standing firm and confronting challenges. No one will be able to undermine our determination or deter us from continuing our path of progress and fulfilling our commitments, whatever the circumstances.”
“No one can break our resolve. We are like a phoenix, rising from the ashes every time, again and again.”
“Therefore, I am pleased to share with you my conviction that this country, and this city of Riyadh, is the capital of energy security," he added.
The minister also highlighted the strategic importance of the East-West Pipeline, which allows Saudi Arabia to transport oil to global markets through Yanbu on the Red Sea coast. The infrastructure provides an alternative export route intended to strengthen the resilience of the Kingdom’s energy system during periods of disruption.
On October 6, Prince Abdulaziz announced that Saudi Arabia was pumping 5.8 million barrels of oil per day through the pipeline. The announcement marked the first official confirmation of its operating level after the facility had been temporarily shut down following attacks several weeks earlier.
Addressing the broader challenges facing international energy markets, the minister emphasized the need for countries to work together to safeguard supply reliability and economic stability.
“ensuring energy security is a shared responsibility that no single country can fulfill alone. Rather, it requires effective international cooperation and coordination.”
“Energy security is a fundamental pillar of economic stability and sustainable growth, and compromising it puts economies and their competitiveness at risk,” he added.
Prince Abdulaziz said Saudi Arabia’s approach to energy security covers multiple sources, including conventional fuels and alternative technologies.
“the Kingdom adopts a comprehensive approach to strengthening energy security, encompassing oil, natural gas, renewable energy, nuclear energy and geothermal energy.”
The meeting brought together senior officials from participating countries and international institutions. Attendees included Italy’s Environment and Energy Security Minister Gilberto Pichetto Fratin, Nigeria’s Minister of State for Petroleum Resources Heineken Lokpobiri and International Energy Forum Secretary-General Jassim Isa Al-Shirawi, alongside other energy ministers, industry representatives and heads of international organizations.
Participants also expressed their “full solidarity with Saudi Arabia and its people following attacks targeting civilian infrastructure,” according to the meeting statement.
They further noted that “holding the ministerial meeting in Riyadh demonstrates the Kingdom’s high level of resilience and reflects a spirit of unity and shared commitment.”
With its secretariat based in Riyadh, the International Energy Forum brings together representatives of energy-producing and energy-consuming countries to discuss shared challenges and strengthen international dialogue. Its ministerial meeting is regarded as a major gathering for energy policymakers and industry leaders.
The discussions underscored the importance of international coordination, diversified energy infrastructure and continued investment in maintaining stable supplies as geopolitical tensions place pressure on global markets.
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