Muscat: On 9th of September this year, Oman along with International Energy Agency (IEA) will host a ministerial dialogue, with participants from the middle-east and MENA region to discuss the timeline and methodology of the transition into clean energy. Several top officials from the middle-east and MENA region will be joining.
The event will be organised by Oman’s Ministry of Energy and Minerals and the Paris-based global energy forum. The aim of the event is to explore ways to leverage clean energy transitions to ensure broader economic resilience in oil and gas producing countries impacted by climate change. The ministerial dialogue however, will be hosted by Oman’s Minister of Energy and Minerals Dr Mohammed bin Hamad al Rumhy and IEA Executive Director Fatih Birol, who will address the topics mentioned above.
According to a statement by the IEA, “Not only is the Middle East and North Africa region warming at a significantly faster rate than the global average, but the region’s exports are uniquely vulnerable to energy market shifts resulting from global efforts to mitigate climate change. If oil and gas demand were to decline as much as implied in the IEA’s Global Roadmap to Net-Zero Emissions by 2050, then producer economies’ net incomes from oil and gas could fall to just one-fifth of their current levels in the next three decades. The loss of these revenues would pose substantial risks for undiversified economies.”
Established in 1974, the IEA is an international energy forum comprise of 29 industrialized countries under the Organisation for Economic Development and Cooperation (OECD). Its mandate has expanded over time to include tracking and analysing global key energy trends, promoting sound energy policy, and fostering multinational energy technology cooperation.
