Saudi Energy Minister: Providing Competitive Energy Prices for Companies

Saudi Energy Minister Prince Abdulaziz Bin Salman at the Digital Government Forum in Riyadh

Saudi Energy Minister Prince Abdulaziz Bin Salman has revealed a new initiative led by the Kingdom aimed at providing sustainable energy to businesses at a fixed and stable price for an extended period.
He revealed that there are currently 1,200 sites across various regions of the Kingdom being studied to determine the most suitable locations for solar energy projects.
During a session titled ‘The Role of Innovation and Digital Transformation in Enhancing Efficiency in the Energy Sector Towards a Sustainable Future’ at the Digital Government Forum in Riyadh, the prince announced a new direction to provide sustainable energy to companies at a fixed and stable price for a long period, asserting that the Kingdom is capable of doing so to enhance the economic returns of facilities.
The minister added that the Ministry has succeeded in reducing costs by using modern technologies in the process of extracting, producing, and distributing all forms of energy, as well as in reducing costs in manufacturing spare parts and devices used in these processes.
He also noted that the Kingdom has ‘thousands’ of oil and gas pipelines spread across the country, highlighting the importance of artificial intelligence technology in monitoring various aspects around them, including maintenance, safety, and security.