Minister Arkab: The changes in the energy landscape necessitate collective efforts to protect our interests
KUWAIT CITY – Algerian Minister of State, Minister of Energy, Mines, and Renewable Energy Mohamed Arkab participated on Sunday in the 113th meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) in Kuwait City, according to a statement from the Algerian Ministry of Energy and Mines.
In his speech, Minister Arkab highlighted the significant efforts of the organization to develop its activities and operations to become one of the leading global organizations in terms of performance and influence on the global energy landscape, which is undergoing significant changes, the statement said.
In this regard, he noted that the rapidly evolving global energy landscape requires a “unified effort to safeguard the interests of member states, strengthen energy security in the medium and long term, and maintain the stability of oil markets to support investment and revenue, which will ultimately contribute to the economic and social development of Arab nations.”
Minister Arkab also stressed that global energy demand will continue to grow and will require all energy sources, including fossil fuels, especially natural gas, which remains “a clean, future-oriented fuel that will play a pivotal role in the energy transition while supporting the development of renewable energy sources in the future.”
“We must support and develop these sources through sound decisions to address these challenges, protect our interests, and contribute to global energy security,” he added.
During the meeting, the member countries agreed on the restructuring of OAPEC, revising its founding agreement, and changing its name to the “Arab Energy Organization (AEO).” Once approved by the legal procedures of each member state, the decision will empower the General Secretariat to continue developing the organization’s activities, the source said.
According to the statement, this decision follows a detailed study and evaluation of the changes and challenges faced by the energy sector at national, regional, and global levels in recent years. Therefore, the rapid transformations in this field have prompted a review of the organization’s activities and goals, expanding them to cover all areas of energy. This aims to enhance the organization’s role as a driver of cooperation and knowledge exchange among member states, addressing energy-related challenges and opportunities while building national capacities in this critical sector.
