Omani French Friendship Association (OFA) held a second meeting with Salim Al Aufi, Undersecretary of the Ministry of Oil & Gas today (February 6) to continue the discussion started last year on the energy transition.

The meeting titled ‘Energy Transformation: a choice or a necessity’ focused this year in particular on the financial perspective associated with this transition.

The impact of fossil fuels on climate change has led governments, business communities, investors and the public in general to recognize the urgency to decarbonise the global economy. It is also widely acknowledged that massive investments are required for a sustainable energy transition but the question is to find out how and who will undertake it. The meeting attempted to balance the necessary financial short-term returns for investors and banks with long term vision.

The panellists included Salim Al Aufi, Undersecretary of the MOG, Marie Cécile Grzanka, head of Sectorial Coverage Energy Natural Resources & Energy Financing of Société Générale, Nigel Govett, chief financial officer of Rakiza Fund & member of the Senior Investment Committee of SGRF and Mohammed Al Riyami, senior manager of Oman Society for Petroleum Services (OPAL) who moderated the panel discussion.

The key aim of this informative meeting was to discuss the situation of the sustainable pathway, to ascertain if enough is being done in energy efficiency, to listen to the government plans and position to increase renewables in the energy mix and to understand the current trend in funding projects with less carbon footprint, among other key questions.

OFA would like to thank its sponsors for that meeting: TOTAL Oman (Platinum), ENGIE (Gold), PDO and Bank Muscat (Silver), Symtech Solar Mena (Bronze), an OFA statement said.

OFA, a non-profit organization registered with the Ministry of Foreign Affairs, is chaired by Sheikha Hind Bahwan and fully supported by the French Embassy, and aims at strengthening the bilateral relations between Oman and France thought the organization of monthly events. – TradeArabia News Service