Balance between energy security, affordability, and sustainability needed for effective transition: Al-Kaabi

HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi has stressed the need for a balance between energy security, affordability, and sustainability for an effective transition.He was participating in a panel session at India’s Energy Week 2024 conference in Goa Wednesday.Al-Kaabi highlighted the challenges in navigating the volatilities, uncertainties and complexities that impact the energy industry during a special panel discussion on energy security with the participation of Hardeep Singh Puri, India’s Minister of Petroleum & Natural Gas, and Housing & Urban Affairs; Vickram Bharrat, Minister of Natural Resources, Republic of Guyana, and Haitham al-Ghais, Opec Secretary-General.Al-Kaabi emphasised that in order to face such challenges, especially in the context of the energy transition, the various stakeholders need to create a balance between energy security, affordability, and sustainability, while at the same time encouraging investments in a diverse energy mix, including renewables, natural gas, and other forms of cleaner energy sources to help mitigate risks associated with the volatility of energy markets.The minister also hailed the strong energy relations between India and Qatar, noting that January 25 of this year marked the 20th anniversary of the inaugural LNG shipment to Petronet’s LNG Dahej Terminal. And on February 4 this year, Petronet LNG successfully lifted the 2,000th LNG cargo from Qatar.Energy Week 2024 is India’s largest energy exhibition and conference, covering the entire energy value chain, and is expected to attract over 35,000 attendees, 350 exhibitors, and 400 speakers from more than 100 countries.