Organization of Arab Petroleum Exporting Countries
Environment /
Climate Change/
Sustainable development
Volume 40 Issue 5
20
Saudi Minister of Petroleum and Mineral
Resources HE Engineer Ali Ibrahim Al-Naimi
said the Kingdom’s success in providing trusted
and secure natural oil, gas and mineral supplies
has actively contributed to boosting economic
growth both locally and internationally.
In a speech at Clingendael Institute for
International Relations in The Hague, Holland,
Al Naimi has showcased a number of current
and future petroleum projects in the Kingdom
which would lay economic basis for expanding
downstream petroleum industries (refining and
petrochemicals) in cooperation with international
petroleum companies. This is in addition to building,
developing, and expanding integrated industrial
complexes. He explained that Saudi observed
implementing economic and industrial policies in
line with local and international priorities.
Also, the minister has stressed the Kingdom’s
great concern over environment and climate
issues in light of the world’s dependency on oil
and natural gas consumption highlighting the
vital role of modern technology in reducing the
negative effects of energy consumption. He
clarified the Kingdom’s support for a number of
research projects in CO2 capturing and storage
techniques.
He has pointed out that the USA’s shale
oil production helped in providing more oil
supplies in international markets and meeting the
increasing global energy demand resulting from
increasing population. He added that shale oil
would help setting a minimum price for oil which
in turn would enhance long term investments
necessary of energy industry.
His Excellency has clarified that from a
Saudi, and oil producing country’s perspective in
particular, the most important thing is to keep oil
prices stable because sharp price fluctuations are
not in favour of any party.
Al-Naimi:
KSAVery Keen on Environment
and Climate Change Issues
On 30 April 2014, Russia has officially filed a
complaint at the World Trade Organisation (WTO)
against the European Union’s
Third Energy
Package Rules
that ban energy companies from
combining supplying activities (fuel) and owning
basic infrastructures like pipelines. Russia sees
this issue as discrimination against foreign energy
suppliers operating in the European Commission
market. While the European Commission sees that
the Russian Gazprom company’s contribution in
the South Stream gas pipeline project as a violation
of the European Commission’s rules. The company
combines supply with owning pipelines at the same
time.
If the two sides failed to reach an agreement
within two months of the complaint submission
date, an arbitration committee from the WTO
would be formed to investigate the issue and
judge according to the Organisation’s Central
Arbitration Committee rules. The Committee
has dealt with five energy-related cases in the
past, most important of which was Japan’s
complaint against Canada on 13 September
2010 on renewable energy measures. Also, on 22
Decemebr 2010, the USA has complained against
China on wind energy measures. On 19 December
2013, Argentine has filed a complaint against the
EU on fossil diesel anti-dumping measures.
Russia takes EU Energy Rules to WTO Arbitration
