Aramco president and CEO, Amin H. Nasser, has told a gathering of chemicals industry leaders that the global energy transition will not happen without a corresponding materials transition
He made his remarks at the Gulf Petrochemicals and Chemicals Association Forum in Riyadh, which was inaugurated by HRH Prince Abdulaziz bin Salman, Minister of Energy, Kingdom of Saudi Arabia. Also in attendance were ministers, officials and senior industry executives including Olivier Thorel, Aramco vice president of Chemicals.
The high-profile event heard how the chemicals industry must accelerate its innovation and technology programmes to maximise the development and penetration of advanced sustainable materials.
Setting out his vision for a viable materials transition (and the opportunities this presents for the chemical industry), Nasser explained why it is urgently needed to meet global net-zero emissions goals, and shared a threefold call to action.
“First, the chemical industry needs to strengthen and accelerate its innovation efforts to develop more durable and more sustainable materials, at scale, while reducing their cost.
“Second, establishing an advanced materials centre, here in the Kingdom, could strengthen and complement existing programmes and push the boundaries of innovation through global collaboration.
“Third, the energy crisis is forcing many chemical companies to cut operations or shut down, particularly in Europe.
“With an abundance of fuels and feedstocks, and extensive range of support infrastructure, it has never been more attractive for overseas chemical companies to invest here.”