Saudi Arabia’s Ministry of Energy announced that the Kingdom will join Canada, Norway, Qatar and the United States to form a forum to develop strategies including methane abatement, circular carbon systems, carbon capture and storage and economic diversification.
The five countries collectively represent 40 percent of global oil and gas production.
A joint statement from the five countries noted that the cooperative forum will develop pragmatic net-zero emission strategies, including methane abatement, advancing the circular carbon economy approach, development and deployment of clean energy and carbon capture and storage technologies, diversification from reliance on hydrocarbon revenues, and other measures in line with each country's national circumstances.
The International Energy Forum (IEF) commended five of its member countries for forming the Net Zero Producers' Forum to develop pragmatic net-zero emission strategies.
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