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IAEE Conference Discusses Opportunities for Advancing ‘Hydrogen Economy’

IAEE Conference Discusses Opportunities for Advancing ‘Hydrogen Economy’

Monday, 6 February, 2023 - 09:45
The Saudi Energy Minister presenting the Energy Excellence Awards (Asharq Al-Awsat)

Hosted for the first time in the MENA region, the 44th International Association for Energy Economics (IAEE) Conference in Riyadh reviewed the risks of volatility in global oil and gas markets. Participants at the summit also discussed threats to future opportunities offered by the hydrogen economy.

Prince Abdulaziz bin Salman, Minister of Energy of Saudi Arabia, and Chairman of the Board of Trustees of King Abdullah Petroleum Studies and Research Center (KAPSARC), inaugurated the IAEE Conference on Saturday.

“Today, KAPSARC is one of the most empowered think tanks in the world. It has the facilities, the accommodations, the endowments, and the talent to advance the energy industry. I am certain that it will be the incubator of more influential events like the 44th IAEE Conference, which has received record attendance,” said Prince Abdulaziz.

The six-day event, which brings together the world’s energy elite, is being held under the theme “Pathways to a Clean, Stable, and Sustainable Energy Future.”

On Sunday, the conference’s sessions dealt with geopolitical risks and ways to protect energy, measuring energy security risks in Southeast Asia, and ways to enhance competing interests in terms of energy transition, security, and justice.

Moreover, attendees tried to map a road to smart energy solutions. They also tackled access to sustainable and safe electricity supply in Europe.

In a panel discussion focused on the future of Hydrogen, conference attendees reviewed affordability, energy security and diversity. Predictions showed that hydrogen will become the global product promoting multiple paths to clean energy production.

Participants also examined an analytical study on consumption of renewable energies in Arab countries.

In the sessions, they expected hydrogen to soon start competing with traditional energy products.

This comes at a time when importers are seeking a multidimensional approach that ensures affordability, diversification, and energy security.

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