Saudi Arabia will continue implementing its economic goals and investing in energy infrastructure, industrial capacity and international partnerships despite the challenges presented by the ongoing conflict in the Middle East, Energy Minister Prince Abdulaziz bin Salman said Monday.Speaking at the World Petroleum Congress in Riyadh, the minister said Saudi Arabia had overcome major challenges throughout its history and would continue to do so, insisting that “fear has no place in the Saudi dictionary.”He said Riyadh’s hosting of the international event reflected its position as an “energy security capital,” adding that the participation of senior officials and experts from around the world showed international confidence in the kingdom and its ability to ensure the safety of visitors.He spoke as the Saudi capital’s main international airport remained shut down after a week of strikes by Iran-backed Houthi rebels in neighboring Yemen that killed 20 people.The minister acknowledged that risks to the global energy system had not disappeared and he said that made international dialogue and cooperation essential to protecting supplies and stabilizing markets.Bin Salman cited the East-West Crude Oil Pipeline as an example of Saudi long-term strategic planning, saying it provided an alternative route to transport oil amid ongoing impediments in the Persian Gulf and Strait of Hormuz, and that it had helped the kingdom supply global markets during the exceptional circumstances of the war. He credited state energy giant Saudi Aramco’s expertise with helping restore operations quickly when disruptions do occur — which they have on multiple occasions during the U.S.-Iran war.
Iran’s proxy groups across the Mideast have targeted the East-West pipeline, along with other infrastructure, repeatedly, taking the pipeline out of service for weeks.
