WIF 2026: Experts Discuss Balancing Energy Security with Energy Transition
Doha, October 25 (QNA) - Participants in a session titled "Investing in Energy Security for a Sustainable Future," held on the sidelines of the 9th World Investment Forum (WIF) 2026 in Doha, discussed how countries can balance energy security with the transition to a sustainable energy future. They also explored how governments, investors, and development finance institutions can collaborate to finance the transition.
In this context, HE Dr. Mohammed bin Saleh Al Sada, former Minister of Energy and Industry of Qatar and a member of the Board of Trustees of the Abdullah bin Hamad Al Attiyah International Foundation for Energy and Sustainable Development, said waterways—most notably the Strait of Hormuz—serve as bottlenecks to the trade of two highly strategic commodities: oil and gas. He said the effects are not confined to the Gulf Cooperation Council (GCC) states but extend worldwide, and their full scale has yet to be adequately assessed.
He added that, even after the full reopening of the Strait of Hormuz, the global energy sector would need at least two years to restore the balance between supply and demand. This would require an increase in daily oil production of three million barrels: two million to meet rising demand and one million to replenish strategic reserves, which have been steadily depleted over the past eight months or so. He also said the first segment of the value chain—including investment, extraction, processing, and refining—has demonstrated remarkable resilience, a characteristic of the Gulf region’s hydrocarbon sector since its inception. He warned that the adverse consequences of a prolonged closure of the Strait of Hormuz would intensify and spread globally.
Mustafa Tuzcu, Turkiye's Deputy Minister of Trade, asserted that achieving energy security alone is insufficient; it must be coupled with climate responsibility and economic competitiveness.
He pointed out that rising global energy prices have impacted economies worldwide, particularly in developing nations. Volatile energy costs and economic conditions complicate industrial strategies, leaving many developing countries struggling to address challenges such as navigating complex obstacles, accessing new markets, and managing soaring expenses.
For her part, Angela Perez, Chairperson and CEO, COFIDES, (a Spanish state-owned entity), highlighted how renewable energy has enabled her country to mitigate the volatility of energy consumption costs.
She underscored the importance of establishing a robust regulatory environment capable of encouraging private-sector investment in renewable energy projects. In this context, she cited the experiences of Brazil and South Africa, both of which implemented enabling legal and regulatory frameworks that allowed private, public, and foreign investments to flourish.
For his part, Obaid Amrane, Chief Executive Officer, Ithmar Capital, emphasized the importance of renewable energy in achieving an energy balance and managing energy consumption costs. He noted that encouraging investment in this sector requires a suitable regulatory environment and sound governance, alongside the provision of productive assets that are precisely aligned with actual needs.
He explained that, the renewable energy sector is driven by capital and is reliant on oil or gas production. The core of the process lies in the recovery of investment costs, he added.
Meanwhile, Alan Chan, Executive Director of the Board, Hong Kong and China Gas Company, stated that in the wake of the COVID-19 pandemic, recent conflicts, and supply chain disruptions, many nations—including China—have begun to re-evaluate their strategies, with a particular focus on the necessity of building resilience within the energy sector. This resilience is not limited to regional or geographical dimensions, Chan said, adding it also encompasses the capacity to withstand extreme climatic conditions. He added that the sector faces two intersecting imperatives: strengthening geographical resilience and meeting growing demand for energy that supports climate resilience, namely through decarbonization. (QNA)