Saudi energy minister says Riyadh backs COP28 deal, praises flexible approach

Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said on Wednesday that Riyadh supported the final COP28 deal as it leaves countries to decide for themselves on suitable pathways to transition to cleaner sources of energy.

“What is there now, the issue of immediate and gradual disposal (of fossil fuels) has been buried,” Prince Abdulaziz said in an interview , adding that the deal would not affect the ability of the world’s top oil exporter to sell its crude.

“The pharaoh methodology of dictating things has been buried, and so people are free in their choices,” he said, referring to a set time frame for phasing out hydrocarbons.

Prince Abdulaziz thanked the UAE, saying there was full cooperation and coordination between the two countries.

“There was a perfect cooperation between us, they did not leave us, we were always constantly coordinating and consulting, and we were given priority that I don’t think I have ever seen it in any such conference,” he said.

Prince Abdulaziz referred to the text of the agreement which stipulates that countries transition according to their “nationally determined manner” and according to “different national circumstances, pathways and approaches.”

“They are mostly reaffirming our understanding of the climate change agreement, leaving countries without restrictions passed down from entities that are not party to your decision making is what is important,” he said.

OPEC Secretary General Haitham Al Ghais congratulated the UAE for “the consensual and positive outcome” of COP28, in a joint statement with the Gas Exporting Countries Forum.

“Without adequate levels of investment, the future of our industry is in jeopardy,” it quoted Al Ghais as saying.

“Part of this effort entails ensuring a balanced narrative on energy transitions and, when necessary, correcting misguided messages related to both hydrocarbon fuels and our industry.”