Saudi Arabia's Aramco is ramping up its commitment to cater to Asia's demand for energy and chemicals, according to President & CEO Amin H. Nasser. He has called for Asian countries to take a more prominent role in shaping an inclusive global energy transition.

“We are doubling down on Asia’s growing demand for energy; chemicals; advanced materials; lubricants; and new lower carbon energy, supported by game-changing technologies — doubling down on these needs by being Asia’s ‘one-stop source’ that also aims to balance energy security and affordability with environmental sustainability,” Aramco President & CEO Amin H. Nasser said during a a keynote speech at the Energy Asia conference today in Kuala Lumpur, Malaysia

On the opportunity for Asia to be more vocal about the energy transition, Nasser said: “When it comes to the energy transition, I do not believe the interests of this dynamic region are being adequately reflected in the popular energy transition narrative and current transition policies."

"Existing transition policies rightly attempt to address environmental sustainability. However, the equally critical issues of energy security and affordability are under-emphasized... I see this as Asia’s great opportunity to speak louder and more clearly about its unique transition priorities. Asia’s transition voice should match its economic voice,” he added.

Last year, Aramco, one of the largest companies in the world by revenue, established $1.5 billion Sustainability Fund, through Aramco Ventures, which will invest in technologies that will address the challenge of balancing energy security and sustainability. It has announced plans for one of the largest CCS (Carbon Capture and Storage) hubs in world.

Aramco in partnership with SABIC Agri-Nutrients shipped 25,000 metric tonnes of the world's first commercially accredited blue ammonia to South Korea in 2022.

The company is striving to convert up to four million barrels of liquids-to-chemicals per day by 2030. 

(Reporting by Seban Scaria; editing by Daniel Luiz)

(seban.scaria@lseg.com)