Three Overlapping Priorities
In turn, we believe that our priorities overlap with China’s in three key areas.
First, ensuring the continuing security of China’s energy needs remains our highest priority – not just for the next five years but for the next 50 and beyond.
Second, we see opportunities for further investments in integrated downstream projects to help meet China’s needs for heavy transport and chemicals, as well as lubricants and non-metallic materials.
Third, to help China meet its innovation, modernization, and sustainability goals, Aramco’s Research Center in Beijing is already working with Chinese universities and companies in areas like:
- Cleaner engine-fuel systems of the future;
- Catalytic Crude to Chemicals technology;
- And focusing heavily on reducing and removing greenhouse gas emissions.
In fact, we have even bolder ambitions to expand and intensify our research collaboration with China.
Additional collaboration is likely on blue hydrogen from hydrocarbon resources and low carbon products; blue ammonia; synthetic fuels; carbon capture, utilization, and storage; and materials science.
All of these are essential to achieving our long-term, low carbon ambitions.
Ladies and Gentlemen, as a new era begins, we look forward to contributing even more to China’s economic development and common prosperity.
Everything from the 14th Five Year Plan, Dual Circulation, and Belt and Road to peak greenhouse gas emissions by 2030, 2035 Goals, the 2nd Centennial Goal by 2049, and net carbon neutrality by 2060.
And every step of the way we aim to be side-by-side with our Chinese partners, delivering these strategic, value-adding, parallel priorities.
Thank you, and xiè xiè.