Secretary-General of OPEC Haitham Al Ghais spoke highly of Kuwait’s active participation in the eighth Vienna energy symposium currently organized by the bloc.
Speaking to KUNA on Thursday, Al-Gais praised participation of Kuwait’s Deputy Prime Minister, Minister of Oil and Minister of State for Economic and Investment Affairs Saad Al-Barrak in the symposium and its ministerial session, which focused on raising output capacity through increasing investment.
Al-Gais further expressed gratitude to the Ministry of Information for its effective partaking to cover this international event organized by OPEC every three years.
He stressed the importance of the seminar, which gathered together energy decision-makers from varied countries all over the world to discuss the best ways to address challenges facing this sector.
OPEC periodical data underlines the necessity of energy investment worth USD 12 trillion as of now and until 2045 that includes exploration, production, refining, petrochemicals, and transport and shipping, Al Ghais said.
OPEC encourages investment, which has great importance, he added, noting that OPEC member states play their role in this regard.
Global economy will have doubled and population will have increased by 1.5 billion by 2045, he made clear.
OPEC chief warned against energy poverty facing millions who do not have the simplest methods of energy and electricity.
Consequently, he stressed the significance of investment to meet demands for energy supplies at reasonable prices.
He referred to OPEC oil ministers’ meeting held on the sidelines of the symposium, adding that it was an opportunity to maintain communication amongst OPEC and non-OPEC member states.
Al Ghais indicated that the seminar featured a large number totaling 950 participants who stressed their interest in energy.
All agree that energy crisis can not be addressed by only one solution, he said, signaling that the world is talking about gradual transformation in energy use.
He finally criticized those who said that oil producers are responsible for environment pollution.
He proved that there are some OPEC members, which pay much attention to reduce emission in oil output and refining.
Source: Kuwait News Agency