Riyadh:Prince Abdulaziz bin Salman bin Abdulaziz, Saudi Arabia's Minister of Energy and Minister of Industry and Mineral Resources, emphasized the critical need for flexibility and a wide array of options to effectively handle energy crises. His remarks were made during a ministerial dialogue titled 'Perspectives on Global Oil and Gas Markets' at the 25th WPC Energy Congress, which is being hosted in Riyadh for the first time.

According to Saudi Press Agency, Prince Abdulaziz highlighted the importance of proactive preparation for potential energy challenges, stressing the need to have plans and capabilities in place. He noted the resilience demonstrated by the energy sector in overcoming past challenges, despite the unprecedented nature of recent crises.

The Prince also discussed the balance needed between net-zero ambitions and energy security, advocating for a comprehensive approach that considers sustainability, price stability, and affordability. He warned against neglecting economic fundamentals, which could lead to increased costs and vulnerability.

Saudi Arabia's advancements in renewable energy and infrastructure, such as the East-West Pipeline, were also highlighted. Prince Abdulaziz outlined plans to enhance the pipeline's capacity, reinforcing Saudi Arabia's role in global energy supply security.

Algeria's Minister of State, Mohamed Arkab, expressed solidarity with Saudi Arabia, condemning attacks against the Kingdom. He shared Algeria's focus on developing energy infrastructure and expanding its energy production capabilities.

Nigeria's Minister of State for Petroleum Resources, Heineken Lokpobiri, emphasized the strategic partnership between Nigeria and Saudi Arabia and detailed Nigeria's reforms to attract investment in its energy sector.

OPEC Secretary General Haitham Al Ghais underscored the need for significant investment in the oil and gas sectors, praising Saudi Arabia's policies as a stabilizing force in global energy security.