Abdulaziz bin Salman: The cost of constructing alternative pipelines is much less than the price of their absence

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The Saudi Minister of Energy, Prince Abdulaziz bin Salman, confirmed that the Kingdom continues to enhance the flexibility of its energy system by developing alternative and additional pipelines, stressing that the cost of establishing this infrastructure, although high, remains much lower than the cost of the absence of alternatives in times of crisis.

The Minister said, during the opening of the meetings of the International Energy Forum, that the current circumstances that the world is going through require countries to work together and enhance dialogue on energy security issues, stressing that the Kingdom’s commitment to global energy security is “inevitable.” He described Riyadh as the "capital of energy security," noting that flexibility represents an inherent part of the Saudi economy.

He explained that the East-West oil pipeline is practical evidence of the Kingdom's commitment to ensuring the security of supplies and the continuity of the flow of energy to global markets, revealing that Saudi Arabia is working to develop additional pipelines to provide more strategic alternatives for transporting oil and energy.

Prince Abdulaziz bin Salman added that building and maintaining energy infrastructure requires years of work and huge investments, stressing that establishing new transmission lines is expensive, “but the cost of not having alternatives is much greater,” especially in light of the geopolitical challenges and disturbances that may affect traditional shipping routes. He also pointed out that the East-West line provides a strategic outlet for transporting oil away from crowded sea lanes, which enhances the reliability of supplies and the flexibility of supply chains.

In the same context, Japanese Minister of Economy, Trade and Industry Ryusei Akazawa described Saudi Arabia as an “essential and reliable partner in energy security,” stressing the pivotal role that the Kingdom plays in maintaining stable supplies to global markets and supporting energy security in light of the increasing challenges facing the sector globally.

The Saudi Minister of Energy concluded by emphasizing that the Kingdom is continuing to implement its future plans and ambitions in the energy sector, saying that “nothing and no one can stand in the way of these ambitions.”

Riyadh is hosting the 25th World Petroleum Conference, for the first time, under the slogan “Paths towards an energy future for all,” with the participation of many ministers and 300 CEOs of major international energy companies, along with representatives of international organizations, experts, and policy makers to discuss the future of the sector and its major transformations.