Saudia Arabia declares “shared interest” in renewables
Friday 19 December 2008
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| Secretary of State for Energy and Climate Change Ed Miliband chaired the London Energy Meeting today, where world leaders and oil producers gathered to discuss the volatile price of oil |
Saudi Arabia has shown unexpected support for renewables, as world leaders gathered in London today to discuss oil prices and the economics of energy.
Speaking to press at the London Energy Meeting this morning, Minister for Energy and Climate Change Ed Miliband said that Saudi minister Mr Al-Naemi had "emphasised the interest that the world shares in developing renewable energy."
He added that Saudi Minister of Petroleum and Mineral Resources Mr Al-Naemi understood "that not many people expected to hear this from Saudi Arabia".
Mr Miliband was speaking in his capacity of chair at the London Energy Meeting, a conference of energy producers and consumers that included world leaders and oil companies.
The meeting followed on from a similar summit held in Jeddah this summer, where Prime Minister Gordon Brown urged oil producers to invest in renewable energy (see this New Energy Focus story) .
Mr Miliband said: "I think that what minister Al-Naemi said is absolutely right -there is a shared interest in investment in renewables and investment in carbon capture and storage, and we've been delighted that Masdar is investing in the London Array project.
"When I was out in the Gulf with the Prime Minister we were working with Masdar and others to form collaborations for renewables. All this is going to be very important," he added.
"Transition"
For the meeting in London, the agenda was focused on the volatility of oil prices and the global economy, but Mr Miliband did confirm that discussions were taking place on renewables investment as well.
I think that what minister Al-Naemi said is absolutely right -there is a shared interest in investment in renewables and investment in carbon capture and storage
However, he added that global dependence on oil will continue in the short-term, and that renewable energy is unlikely come to the forefront of discussions for some time.
"We're in transition economies, and there's a lot of transition involving oil for some time to come," he said. "In 10 years' time, when this kind of meeting happens, renewables and carbon capture and storage will be even more of a focus, and it will become more of a focus in these discussions that take place in consuming and producing countries."
"And the very fact that we can have that discussion between consuming and producing countries is a sign of progress in my view. It is a sign of recognition that it is a long transition, but that renewable technologies will play a very firm role in producing countries as well."
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