
Saudi Arabia Takes Part in 64th COPUOS Legal Subcommittee Session in Vienna
Saudi Arabia, represented by the Communications, Space and Technology Commission (CST) and the Saudi Space Agency (SSA), participated in the 64th session of the Legal Subcommittee of the Committee on the Peaceful Uses of Outer Space (COPUOS), held in Vienna, Austria, from May 5 to 16, the Saudi Press Agency reported on Tuesday.
The session aimed to address legal issues related to space activities, including the legal aspects of the use of outer space and the challenges arising from commercial activities and space debris.
The session witnessed discussions and a general exchange of views on several topics related to the peaceful use of outer space, a review of the status and application of the five United Nations treaties related to outer space, and the definition and delimitation of outer space, in addition to various other topics.
COPUOS was established by the UN General Assembly more than 65 years ago and is headquartered in Vienna. The committee began with 24 member states and has since expanded to 102, making it one of the larger UN committees.
The United Nations Office for Outer Space Affairs (UNOOSA) serves as the committee's secretariat.
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Arab News
an hour ago
- Arab News
Global energy investment to hit record $3.3tn in 2025: IEA
RIYADH: Energy investment globally is projected to hit a record $3.3 trillion in 2025, driven by a surge in clean power spending amid economic uncertainty and geopolitical tensions, according to an analysis. In its latest report, the International Energy Agency said that technologies in the sector, including renewables, nuclear, and storage, are set to attract $2.2 trillion in investment. Investments in oil, natural gas and coal are set to reach $1.1 trillion this year. The uptick in clean energy spending aligns with the wider trend observed globally as most nations, including oil-rich countries in the Middle East, have set net-zero targets to reduce emissions and combat climate change. Saudi Arabia plans to achieve net-zero emissions by 2060, while the UAE aims to reach the goal in 2050. Fatih Birol, executive director of the IEA, said: 'Amid the geopolitical and economic uncertainties that are clouding the outlook for the energy world, we see energy security coming through as a key driver of the growth in global investment this year to a record $3.3 trillion as countries and companies seek to insulate themselves from a wide range of risks.' He added: 'The fast-evolving economic and trade picture means that some investors are adopting a wait-and-see approach to new energy project approvals, but in most areas we have yet to see significant implications for existing projects.' Electricity takes the lead IEA said that investment trends in the sector are being shaped by the onset of the 'Age of Electricity' and the rapid rise in demand for industry, cooling, electric mobility, data centers and artificial intelligence. A decade ago, investments in fossil fuels were 30 percent higher than those in electricity generation, grids and storage. In 2025, electricity investments are set to be some 50 percent higher than the total amount being spent bringing oil, natural gas and coal to market, reaching $1.5 trillion. In April, another report by the IEA also highlighted the growing demand for electricity globally driven by the rapid rollout of AI and data centers. At that time, the think tank said electricity consumption by data centers powered by AI is expected to double by 2030 to reach 945 terawatt-hours, creating new challenges for energy security and carbon dioxide emission goals. IEA added that electricity consumption by data centers has increased by 12 percent annually since 2019 to reach 1.5 percent of the global amount in 2024. Data centers are a growing user of electricity. Shutterstock Clean energy surge According to the report, spending on low-emission power generation has almost doubled over the past five years, led by solar PV. The energy agency projected that investment in solar, both utility-scale and rooftop, is expected to reach $450 billion in 2025, making it the largest single item in the world's energy investment inventory. 'Fierce competition among suppliers and ultra-low costs are seeing imported solar panels, often paired with batteries, become an important driver of energy investment in many emerging and developing economies,' said the IEA. Battery storage investments are also climbing rapidly, surging above $65 billion this year. Saudi Arabia has also set ambitious goals to generate clean energy, primarily using solar power. The Kingdom plans to generate 58.7 gigawatts of renewable energy by 2030, with 40 GW from solar PV. It also plans to generate 16 GW from wind energy and 2.7 GW from concentrated solar power. This commitment is part of the broader National Renewable Energy Program strategy, aimed at diversifying its energy portfolio and reducing reliance on fossil fuels. IEA added that capital flows to nuclear power have grown by 50 percent over the past five years and are on course to reach around $75 billion in 2025. The US and the Middle East accounted for nearly half of a resurgent level of final investment decisions for natural gas power. Saudi Arabia is also planning to include nuclear energy as a key part of the Kingdom's energy mix. In January, the Kingdom's Energy Minister Prince Abdulaziz bin Salman said the nation is planning to begin enriching and selling uranium. Launched in 2017, Saudi Arabia's National Atomic Energy Project is a cornerstone of the Kingdom's strategy to diversify its energy sources. If investments in carbon capture, utilization and storage move ahead as planned, spending in this sector will rise more than tenfold by 2027 from current levels, the IEA added. 'Low-emissions fuel projects are particularly prone to policy uncertainty. 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'Maintaining electricity security would require investment in grids to rise toward parity with generation spending by the early 2030s. However, this is being held back by lengthy permitting procedures and tight supply chains for transformers and cables,' said the energy agency. The report further said that lower oil prices and demand expectations are set to result in the first year-on-year fall in upstream oil investment since the COVID-19 slump in 2020. The expected 6 percent drop is driven mainly by a sharp decline in spending on US tight oil. However, investment in new liquefied natural gas facilities is on a strong upward trajectory as new projects in the US, Qatar, Canada and elsewhere prepare to come online. The report added that the global LNG market is set to experience its largest-ever capacity growth between 2026 and 2028. Geographical shifts According to the IEA, spending patterns in the energy sector remain very uneven globally — with many developing economies, especially in Africa, struggling to mobilize capital for energy infrastructure. The report added that Africa accounts for just 2 percent of global clean energy investment, despite being home to 20 percent of the world's population. 'To close the financing gap in African countries and other emerging and developing economies, international public finance needs to be scaled up and used strategically to bring in larger volumes of private capital,' said the IEA. China is the largest global energy investor by a wide margin, and its share of global clean energy investment has risen from a quarter 10 years ago to almost one-third now. Even though well behind China, the IEA added that energy investment trends in India and Brazil stand out among emerging and developing economies. 'Mobilising international finance for clean energy investment in emerging and developing economies will need to be combined with the development of domestic capital markets,' added the energy agency.


Arab News
3 hours ago
- Arab News
Oil Updates — crude slips on US stockpile build, Saudi Arabia price cuts
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Asharq Al-Awsat
4 hours ago
- Asharq Al-Awsat
Israeli Strikes Wipe Out Sanaa Return Option for Yemeni Pilgrims
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