In this interview given to CNBC Arabia, Dr Carole Nakhle, CEO of Crystol Energy, discusses the dynamics that the Gulf countries will face during the energy transition.
She is joined by Francesco La Camera, Director General at IRENA, Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Agenda, and Haitham Al-Ghais, Secretary General at OPEC.
Key messages:
- Gulf countries are known for their high dependence on oil and gas revenues. Economic diversification has gained momentum in the region but more work is still needed.
- In energy, the region is also trying to diversify its energy mix which is largely dependent on oil and gas. Less dependence on oil and gas will reflect in lower carbon emissions – a step that is globally welcomed.
- Investments in energy are capital intensive. In the Gulf region, oil and gas revenues are recycled to increase investment in clean energy technologies including solar, wind, nuclear, hydrogen and carbon capture and storage (CCS).
Watch the interview (in Arabic)
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