Canada Action Coalition’s Post

🌍 Summary of the Report: Arab Oil and Gas Exporters' Development Strategies and the Energy Transition 🏭🌱 The transition to clean energy is a major challenge for Arab countries heavily dependent on oil and gas exports. This report highlights two key themes: the importance of diversification and the energy trilemma objectives of security, affordability, and sustainability. 🔑 Key Takeaways: 1️⃣ Economic diversification is crucial to mitigate risks associated with the energy transition. Some Arab countries have made progress in diversifying their economies, but challenges remain in generating non-hydrocarbon export revenues and managing government spending. 2️⃣ Oil and gas revenues can support diversification efforts and help offset potential impacts. Premature exit from the oil and gas sector can deprive countries of important income and competitive advantage. 3️⃣ New dimensions of competition are emerging, including reducing the carbon footprint of oil and gas activities. Gulf producers can enhance the resilience of their sector by focusing on low-carbon intensity barrels. 4️⃣ Carbon capture, utilization, and storage (CCUS) are important for reducing emissions and diversifying into energy-intensive industries. Incentivizing investments in CCUS and developing viable business models are key challenges. 5️⃣ Public policy and government support are crucial for building sustainable business models, pricing externalities, scaling up new technologies, and retiring high-polluting assets. 6️⃣ Investment in infrastructure, supply chains, and electricity systems is essential for achieving a secure, reliable, and affordable energy system. 7️⃣ Financing the transition requires significant investment, with projected annual costs of $3.5 trillion by 2050. Access to finance is a key barrier in developing countries, and multilateral development banks play a vital role in expanding lending capacity. 8️⃣ Climate action is impacted by geopolitical fragmentation and divergent policies between different regions. The world is witnessing a rise in green industrial policies and efforts to limit dependency on foreign energy sources. #energytransition #diversification #sustainability #cleanenergy #climateaction #geopolitics #Investment #arabcountries #OilandGas #renewables We encourage you to read the full report and share your thoughts on these important topics! What do you think is the most critical aspect of the energy transition for Arab countries? Comment below and let's start a conversation! 💬🤝

As oil and gas prices remain weakened, largely due to uncertain growth in the world's major economies, the energy strategies of #Qatar and #SaudiArabia are moving in opposite directions #Breakthrough

International oil companies in Egypt have a sense of deja vu, as they face a second gas crunch in a decade and a weak economy. Egypt needs to find more gas quickly if it is to remain an exporter or become an East Mediterranean gas hub, as hoped. Whilst deep-pocketed majors are sticking the course, some smaller firms are finding the operating environment increasingly challenging. Learn more >> https://bit.ly/3PfwdTq #Egypt #upstream #capex #oilandgas #exploration

On Asharq News الشرق #Bloomberg #Dubai, I participated in a #TV panel with #energy experts from #Egypt 🇪🇬 and #Israel 🇮🇱 on the conflict in the #MiddleEast, its #geopolitical implications for #gas and #oil markets and today's warning of The World Bank 🌍 of exploding oil prices (https://lnkd.in/gE3Dfqb3). In this context, I analyzed the state of #energysecurity of the #EuropeanUnion 🇪🇺 before the upcoming winter 2023/2024 and the various measures of the #EU to regain its #energysovereignty and #resilience against supply and price #shocks, e.g., by saving energy, accelerating #decarbonization through the deployment of #renewables, upscaling gas #storage and diversifying #energy supplies with #LNG imports. In this regard, I reported on today's visit of the #German chancellor #OlafScholz 🇩🇪 to #Nigeria 🇳🇬. Finally, I explained the remaining #energydependency of #Europe on imports of #fossilfuels, highly volatile global #energymarkets and sudden #priceshocks. ▶ https://asharq.co/jcmhd Centrum für Europäische Politik, #REPowerEU, #geopolitics

BIG PICTURE: 𝐅𝐎𝐒𝐒𝐈𝐋 𝐅𝐔𝐄𝐋 ——𝐒𝐓𝐈𝐋𝐋 𝐆𝐄𝐑𝐌𝐀𝐍𝐄 Financial Times: J.P. Morgan has warned the world needs a ‘reality check’ on its move from fossil fuels to renewable energy as higher interest rates, inflation and global conflict hamper the energy transition. https://on.ft.com/4453gzH UNQUOTE McKinsey & Company By 2050, oil, coal and natural gas will contribute 50% to the global energy mix. Asia will drive the demand for natural gas in the next 20-30 years. IQI Global 𝐎𝐈𝐋 𝐌𝐀𝐑𝐊𝐄𝐓 𝐂𝐀𝐋𝐋 𝐅𝐎𝐑 𝟐𝟎𝟐𝟒 Oil prices are going to meander around $91 to $147/barrel. No change in our position since November 20,2023 as per CNBC Arabia call in Dubai. Facts are in vogue. Stay on top of the markets with 善萨伊德Shan Saeed #Oil #JPMorgan #Fossilfuel #IqIglobal #CNN #CNBC #OPEC #Naturalgas #LNG #IEA #EIA #Inflation #Oilshock #Geopoliticalrisk #Mediaengagement #Globaleconomy #Recession #monetarypolicy #GDP #Financialmarkets #Investmentbanking #Assetclasses #Realestate #Bonds #Equities #Commodities #Commentator #NBC #Chicagotribune #Dollar #GCC

The transformation of the economic structure of oil-rich Arab countries over the last decade has led to considerable internal diversification and more complex interconnectedness with the world than just oil and gas exports. #saudieconomy #europeconomy #newcoldwar