In a compelling keynote speech at CERAWeek 2025 in Houston, Texas, Aramco President & CEO Amin H. Nasser emphasised the urgent need for a new global energy model. He pointed out the risks associated with current energy transition planning and stressed the necessity of a comprehensive approach that integrates both traditional and new energy sources.

Nasser outlined the financial challenges of climate action, citing an annual requirement of $6 to $8 trillion. He warned that the existing approach to energy transition is a “fast track to dystopia,” underlining the unrealistic expectation of rapidly replacing conventional energy sources. He noted that hydrocarbons still dominate the energy mix, providing over 80% of primary energy in the US, nearly 90% in China, and more than 70% in the EU. “The greatest transition fiction was that conventional energy could be almost entirely replaced, virtually overnight. New sources add to the energy mix and complement existing sources. They do not replace them. New sources cannot even meet the growth in demand, while the proven sources needed to fill the gap are demonised and discarded.”

He advocated for a balanced energy model where new sources complement rather than replace traditional ones, urging for investments in all energy types. Nasser also highlighted the need for deregulation and financial incentives to support global energy investments. He stressed that this new model should cater to both developed and developing nations, focusing on delivering tangible results. “All sources must play a growing role in meeting rising energy demand in a balanced, integrated manner. Certainly, that includes new and alternative energy sources. They will complement conventional energy, not replace it in any meaningful way. The model must genuinely serve the needs of developed and developing nations alike, as originally promised, especially when it comes to technology. Third, and crucially, this has to be about delivering real results.”

Despite emphasising the need for a diversified energy approach, Nasser reaffirmed the importance of reducing greenhouse gas emissions, prioritising efficiency, and leveraging technologies like AI to enhance energy sustainability. He stated that energy security and affordability must be considered alongside sustainability.

“AI will be a game-changing enabler, but the future of energy is not only about sustainability. Security and affordability must share the stage. With all energy sources working in harmony as one team, delivering real results.”

CERAWeek is a prominent annual conference that gathers over 10,000 energy industry leaders, government officials, and CEOs globally to discuss energy security, climate, technology, and sustainability challenges.

 This year, the event centers on “Moving Ahead: Energy strategies for a complex world.”