KAPSARC develops 3 models for Saudi energy system

KAPSARC seeks to contribute to enriching the local and global research industry and support researchers in improving the welfare of societies. (AFP)
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Updated 14 September 2020

KAPSARC develops 3 models for Saudi energy system

  • Center has become global leader in energy policy

RIYADH: The King Abdullah Petroleum Studies and Research Center (KAPSARC) has developed three models and tools for the economy and energy system in Saudi Arabia, in an effort to boost and diversify Saudi Arabia’s economic and energy prosperity and achieve its Vision 2030 goals.

The center’s researchers have designed the Vision 2030 dynamic input-output tool, the KAPSARC energy model, and the energy policy simulator tool, in order to enhance the understanding of energy economics and environmental policies.

“In order to predict the future of economic and energy issues and face future energy challenges, the number of open-source models and tools reached more than 20 models, 1,800 databases, and 14 research tools,” Dr. Fahad Al-Turki, vice president of research at KAPSARC, said.

Al-Turki pointed out that the development models and tools had provided the latest data and statistics in a variety of subjects and topics, such as the toolkit for behavioral analysis, building energy assessment tool, transport analyzes framework, and the energy data portal, as KAPSARC seeks to contribute to enriching the local and global research industry and support researchers in improving the welfare of societies.

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KAPSARC’s researchers have designed the Vision 2030 dynamic input-output tool, the KAPSARC energy model, and the energy policy simulator tool.

He also stated that the center had 10 initiatives and produced six different publications, such as research papers, data sets, commentaries, peer-reviewed journal articles, and podcasts, to support the global energy sector and help the Kingdom to become less reliant on oil and more diversified in energy resources and revenues.

KAPSARC recently launched a database on the impact of the coronavirus disease on economic and energy indicators to highlight the Kingdom’s efforts in addressing the pandemic and ensuring people’s health.

The center announced last February its progress in the list of the world’s best research centers. KAPSARC jumped 14 positions among Middle East and North African research centers to 15 out of 103 regionally, and ranked 13 out of 60 research centers globally specializing in energy policy.


Saudi Arabia to host ‘virtual’ G20 meeting on oil markets

Updated 27 September 2020

Saudi Arabia to host ‘virtual’ G20 meeting on oil markets

  • Energy ministers will also discuss plans for ‘green’ economic recovery from ravages of coronavirus pandemic

DUBAI: Energy ministers from the G20 countries under the presidency of Saudi Arabia will meet virtually on Sunday to discuss volatile oil markets and plans for a “green” recovery from the economic shock of the COVID-19 pandemic.

The Kingdom is strongly backing a “circular carbon economy” strategy to remove harmful greenhouse gas emissions from the atmosphere.

The two-day event is the second time this year that energy policymakers have come together, following the historic meeting last April that helped stabilize crude markets in meltdown.

Markets have since recovered and the price of benchmark Brent crude has more than doubled, but doubts about their resilience have resurfaced amid fears of a “second wave” of economic lockdowns.

Prince Abdul Aziz bin Salman, the Saudi energy minister and chairman of the G20 event, has highlighted the need for tight discipline by members of the OPEC+ oil producers’ alliance to combat market “uncertainty.” 

“If we are serious about mitigating the impact of the shock and navigating through these extraordinary times, this is our only path,” he said.

The G20 said ministers would discuss ways to “strengthen collaboration toward market stability and security and discuss promoting and advancing sustainable energy systems through the Circular Carbon Economy platform,” and address “advancing universal access to energy and clean cooking for all.”

There is consensus on the need to mitigate harmful emissions, but some European countries and nongovernmental organizations are believed to be pressing for a stronger stance on fossil fuels.

The Saudi strategy, supported by the US and Russia, is for a more inclusive stance on hydrocarbon resources, while simultaneously promoting renewable sources such as solar and wind.