In a speech he delivered in International Energy Week In Singapore, he said Al-Nasser “It is necessary to develop a new energy transition plan that takes into account the decisive role that the Asian continent plays on the global stage, the nature of the resources available to it, and its future growth prospects.
Regarding the need for an updated transformation plan, Engineer Al-Nasser said: “Perhaps the 21st century is the century of the Asian continent. But in light of the current transformation planning that has proven inefficient, we see that the voice of Asia And their priorities, nor the voices and priorities of countries Global SouthThe whole world is feeling the consequences as a result of the failure of current planning. “Progress in the transformation process is slower and more complex than many expected… Therefore, our main focus should be on what can be applied practically and not just theorize.”
Regarding the importance of practical planning for the transformation, Al-Nasser said: “It is necessary to give priority to reducing… emissions Systematically, to achieve the maximum possible impact, at an acceptable cost, and within a reasonable time frame… This approach has multiple sources, speeds and dimensions, and is not biased towards gender. energy Or one technology at the expense of another, and it addresses the actual priorities of energy security, the ability of countries to bear costs, and sustainability, and does not take into account industrialized countries at the expense of developing countries. It is an updated transformation plan with a focus at its core on Asia.”
Regarding the challenge of the energy transition costs, Al-Nasser said: “The transition will be costly for everyone, as the costs required globally are estimated at between 100 and 200 trillion dollars by 2050. For developing countries, it may require about 6 trillion dollars annually. In addition, in A transformation process that requires huge amounts of initial capital investment, and the cost of capital is more than twice this cost in developing countries where the need is greater.”