Latest news with #JamalAl-Loughani
Kuwait Times
4 days ago
- Business
- Kuwait Times
‘All resources vital to meet future demand'
KUWAIT: Secretary General of the Arab Energy Organization (AEO) Jamal Al-Loughani affirmed that all forms of energy must be harnessed to meet the rising global demand, emphasizing that new and renewable sources are critical but will not replace conventional energy. Speaking to Kuwait News Agency (KUNA) on the occasion of the AEO's release of its first quarterly report for 2025, Al-Loughani highlighted the growing global appetite for electric power, which is expected to surge significantly by 2050. He stressed the importance of attracting fresh investments across the energy spectrum to ensure supply security and meet future needs. Al-Loughani noted a marked global interest in renewable energy during the first quarter of 2025, though investment levels varied by region. China, he said, maintained strong momentum in developing its renewable sector to bolster energy security and diversify sources. Egypt, meanwhile, recorded significant growth in solar power output. In contrast, he explained that in the United States, large-scale renewable energy projects faced delays amid tax policy uncertainties, stalling progress in the sector. Within the Arab region, AEO member states are pushing forward with efforts to expand renewables through progressive policies, technological advancements, and international collaboration. Al-Loughani revealed that global renewable energy capacity reached 4,448 gigawatts by the end of 2024. To achieve the tripling target set during COP28, annual growth must exceed 16.6 percent through 2030, he noted. On the topic of clean hydrogen, Al-Loughani underlined the importance of transportation infrastructure, particularly in densely populated areas. He said vehicles powered by hydrogen fuel cells will remain uncompetitive unless hydrogen production costs are substantially reduced. He also pointed to the potential of artificial intelligence (AI) in transforming the energy landscape. AI, he said, could play a key role in improving energy efficiency, reducing consumption, and lowering emissions from conventional sources. Looking ahead, Al-Loughani cautioned that the energy transition must balance sustainability with security, affordability, and regional economic realities. He stressed that each country's approach to clean energy must reflect its socio-economic priorities and conditions. Al-Loughani also warned of the risks linked to the global concentration of rare earth minerals, critical for clean energy technologies. China currently controls 80 percent of supply chains and 90 percent of processing capabilities, posing potential geopolitical and supply chain risks, he said. Commenting on electric vehicles, Al-Loughani offered a cautiously optimistic view. While global oil demand may stabilize or decline in some markets, he said demand in developing nations is likely to grow due to rapid economic and population expansion. On nuclear energy, the AEO Secretary General described it as a strategic option with both major opportunities and complex challenges, particularly concerning safety, security, and waste management. He stated that 440 nuclear reactors are currently operating in 32 countries, generating around 400 gigawatts—approximately nine percent of global electricity. Al-Loughani urged Arab countries to examine international experiences in nuclear development, highlighting the importance of clear policy frameworks, robust investment strategies, and alignment with technological advancements. He concluded by calling for urgent, coordinated action to address the escalating threat of climate change, noting projections of record-breaking global temperatures in the coming years. - KUNA
Zawya
18-04-2025
- Business
- Zawya
Libyan oil sector to surge on high crude quality
Libya's ambitious plans to boost oil production to nearly two million barrels per day (bpd) could be attained given the high quality of its crude and proximity to key consumers, the head of the Arab Energy Organisation (AEO) has said. Libya controls nearly 6.7 percent of the total Arab recoverable oil deposits of around 717 billion barrels, which account for around 54 percent of the world's proven oil reserves, Jamal Al-Loughani said. In his comments in the AEO's bulletin published last week, Al-Loughani said OPEC member Libya is currently pumping nearly 5.2 percent of the total Arab crude production of about 22.9 million bpd, equivalent to 1.15 million bpd. 'The most important feature of the Libyan oil sector is the quality of the crude oil produced, as it is light and has a low sulphur content. This is suitable particularly in the European market,' said the secretary general of the Kuwait-based AEO, formerly the Organisation of Arab Petroleum Exporting Countries. He said another advantage is Libya's geographical location which is close to major consumer markets that are expected to record increased energy demand in the future. This will provide an opportunity to develop the Libyan energy sector to provide the necessary petroleum supplies to these markets, he said. Al-Loughani said Libya's plan to boost production capacity could be achieved by attracting international partnerships, injecting capital, improving efficiency, and increasing extraction rates within a strategy to modernise the energy infrastructure. 'This will help Libya regain its position as a major player in the global energy sector… There is no doubt that the ambitious strategic plan which aims to increase production to 2 million bpd of oil and 4 billion cubic feet of natural gas, reflects a trend toward reconsidering previous methods of boosting production and bringing it to the targeted levels,' Al-Loughani said. In recent comments, a Libyan official said the country is seeking investments ranging between $3 to 4 billion to boost oil output capacity to 1.6 million bpd. Acting oil and gas minister Khalifa Abdulsadek said the country's goal extends beyond reaching 1.6 million bpd with aspirations to increase production to two million bpd. 'There is momentum in reconstruction, and this can only be achieved by increasing the production,' he added. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
04-04-2025
- Business
- Zawya
AEO chief: Arab states to produce 8 million tons of hydrogen annually by 2030
KUWAIT: Secretary General of the Arab Energy Organization (AEO) Jamal Al-Loughani said on Thursday that nine Arab states worked out ambitions plans to produce low-carbon hydrogen projected at eight million tons per year by 2030. The aspired output will soar to 27.5 million tons per annum by 2040, provided the market reaches "the maturity stage," said Al-Loughani in a statement to KUNA. The Geneva-headquartered, UN-affiliated Group of Experts on Gas has welcomed a joint initiative by the AEO and Russia regarding plans to store and transport liquid and solid hydrogen, said Al-Loughani, the chief of the organization (formerly the Organization of Arab Petroleum Exporting Countries, (OAPEC). The initiative was included in the 2026 commission's task program, he said, adding that outcomes would be revised at its meeting due in March the same year, Al-Loughani said. He explained that the topic was included in the plan during the 12th session of the UN gas experts, held in Geneva between March 25 and 28 -- attended by representatives of the member states of the European Economic Commission, the European Commission and international agencies. The AEO representative at the said meeting presented an outlook on hydrogen industry in the Arab states that are increasingly showing interest in investment in this sector to meet growing demand in the major markets namely Asia and Europe. Al-Loughani added that it was noted during the meeting that the number of hydrogen projects in the Arab states, between 2021 and 2024, grew four times reaching 127 ventures compared to 34 in 2021. These projects feature production and exporting low-carbon hydrogen and transporting the product via pipelines stretching from North Africa to Europe, in addition to using it for land and marine transports and fueling ships. Six Arab states have finalized strategies, he said, noting that the organization during the mentioned meeting shed light on the mega projects. The AEO, a member in the UN group of experts since 2015, regularly partakes in its meetings. (end) All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
