Aramco's CEO Advocates for New Energy Model at CERAWeek 2025
Amin Nasser highlights the need for a balanced approach to global energy transition.
In a keynote address during CERAWeek 2025 in Houston, Amin Nasser, president and CEO of Aramco, emphasized the necessity for a fundamental shift in the planning of global energy transition, arguing that the current methodologies pose significant economic risks and threaten energy security.
Nasser outlined that the transition requires an annual funding of up to $8 trillion to adequately address global climate action.
He cautioned that sidelining conventional energy sources in favor of rapid shifts could lead to severe consequences, describing this trajectory as a potential 'fast track to dystopia.'
During his speech, Nasser criticized the prevailing assumption that traditional energy sources could be phased out swiftly, asserting that hydrocarbons currently account for over 80% of primary energy consumption in the United States, almost 90% in China, and more than 70% in the European Union.
He stated, 'New sources add to the energy mix and complement existing sources; they do not replace them.' Nasser argued that the new energy sources alone cannot satisfy the growing demand, and the proven energy sources, which are often criticized, should not be dismissed.
The CEO underscored that a revised global energy model must facilitate a balanced and integrated approach to addressing rising energy requirements.
'All sources must play a growing role,' Nasser insisted, emphasizing that while new and alternative energy sources are important, they are not poised to replace conventional energy in a substantial way.
He called for investments across all energy sources and advocated for deregulation and enhanced incentives for financial institutions to support unbiased financing.
Nasser articulated the need for a model that serves both developed and developing nations, maintaining that technology transfer is vital to ensure equitable benefits.
He acknowledged the significance of environmental concerns, stating, 'This does not mean stepping back from our global climate ambitions.
Reducing greenhouse gas emissions must still get the highest possible priority.'
Highlighting the role of technology in this transition, Nasser noted that advancements such as artificial intelligence can enhance efficiency and facilitate reductions in energy use and emissions from conventional energy sources.
He framed the future energy strategy as one not only focused on sustainability but also on security and affordability, asserting the need for a collaborative approach among all energy sources in pursuit of tangible outcomes.
CERAWeek is recognized as a premier global energy conference that convenes industry leaders, government officials, policymakers, and CEOs to engage in discussions centered on critical topics such as energy security, supply dynamics, climate initiatives, and technological innovation in the energy sector.
This year's event has attracted over 10,000 participants from more than 2,000 companies spanning 80 countries, including over 1,400 expert speakers.
Nasser outlined that the transition requires an annual funding of up to $8 trillion to adequately address global climate action.
He cautioned that sidelining conventional energy sources in favor of rapid shifts could lead to severe consequences, describing this trajectory as a potential 'fast track to dystopia.'
During his speech, Nasser criticized the prevailing assumption that traditional energy sources could be phased out swiftly, asserting that hydrocarbons currently account for over 80% of primary energy consumption in the United States, almost 90% in China, and more than 70% in the European Union.
He stated, 'New sources add to the energy mix and complement existing sources; they do not replace them.' Nasser argued that the new energy sources alone cannot satisfy the growing demand, and the proven energy sources, which are often criticized, should not be dismissed.
The CEO underscored that a revised global energy model must facilitate a balanced and integrated approach to addressing rising energy requirements.
'All sources must play a growing role,' Nasser insisted, emphasizing that while new and alternative energy sources are important, they are not poised to replace conventional energy in a substantial way.
He called for investments across all energy sources and advocated for deregulation and enhanced incentives for financial institutions to support unbiased financing.
Nasser articulated the need for a model that serves both developed and developing nations, maintaining that technology transfer is vital to ensure equitable benefits.
He acknowledged the significance of environmental concerns, stating, 'This does not mean stepping back from our global climate ambitions.
Reducing greenhouse gas emissions must still get the highest possible priority.'
Highlighting the role of technology in this transition, Nasser noted that advancements such as artificial intelligence can enhance efficiency and facilitate reductions in energy use and emissions from conventional energy sources.
He framed the future energy strategy as one not only focused on sustainability but also on security and affordability, asserting the need for a collaborative approach among all energy sources in pursuit of tangible outcomes.
CERAWeek is recognized as a premier global energy conference that convenes industry leaders, government officials, policymakers, and CEOs to engage in discussions centered on critical topics such as energy security, supply dynamics, climate initiatives, and technological innovation in the energy sector.
This year's event has attracted over 10,000 participants from more than 2,000 companies spanning 80 countries, including over 1,400 expert speakers.