By Maha El Dahan and Nadine Awadalla
DUBAI (Reuters) – Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman said on Wednesday he was in agreement with the COP28 presidency on the final deal and that it would not affect the kingdom’s hydrocarbon exports.
“The text, it provides alternatives. But I think these texts do not affect our exports, do not affect our ability to sell,” Prince Abdulaziz told Saudi-owned Al Arabiya television.
More than 100 countries had lobbied for strong language to “phase out” oil, gas and coal use, but faced powerful opposition from the Saudi Arabia-led oil producer group OPEC, which argued that the world can slash emissions without shunning specific fuels.
“They are mostly reaffirming our understanding of the climate change agreement, leaving countries without restrictions passed down from entities that are not party to your decision making is what is important,” he said.
The prince referred to the text of the agreement found in article 28 that stipulates that countries would transition according to their “nationally determined manner” and according to “different national circumstances, pathways and approaches.”
He also thanked the United Arab Emirates, which hosted the U.N. climate summit this year, saying there was full cooperation and coordination between the two countries throughout.
“I say there was a perfect cooperation between us, they did not leave us, we were always constantly coordinating and consulting, and we were given priority that I don’t think I have ever seen it in any such conference,” the prince said.
Sources had told Reuters UAE had come under pressure from Saudi Arabia to drop any mention of fossil fuels from the text.
Members of the Organization of the Petroleum Exporting Countries control nearly 80% of the world’s proven oil reserves along with about a third of global oil output, and their governments rely heavily on those revenues.
(Reporting by Maha El Dahan, Nadine Awadalla, and Ahmed Elimam, Editing by Louise Heavens and Sharon)
