The workshop, which was attended by energy experts and representatives from international energy organizations and commissions, discussed the development of the energy markets in past decades in terms of international and regional energy demand and future developments.

The workshop also discussed the development of future energy contracts in financial markets from the perspective of newly developed financial instruments for the pricing of energy and their relations to spot markets.

The prince will also open on Tuesday a forum on regulating financial energy markets, which will be attended by senior officials from related global agencies. The forum will discuss regulatory aspects of financial markets, international cooperation and control mechanisms, especially financial contracts relating to energy that operate outside market regulations but affect prices.

These activities come in the framework of cooperation between the secretariats of the Riyadh-based International Energy Forum, the International Energy Agency and different energy forums across the world, which the Kingdom has invited along with the Organization of the Petroleum Exporting Countries (OPEC).

Leading these activities is the Supreme Supervisory Committee, headed by Prince Abdul Aziz. The committee was formed by the energy producing and consuming countries that set up the International Energy Forum.

These activities are also the outcome of the resolution of the Jeddah Energy Conference held under the auspices of Custodian of the Two Holy Mosques King Abdullah in 2008 and also a conference in London called by former British Prime Minister Tony Blair in December 2008 when energy markets, especially oil, were exposed to high fluctuation in prices.