< Previous88 high LNG prices,” exacerbating energy poverty in developing regions and contributing to higher carbon emissions. Crescent Petroleum’s achievement of carbon neutrality across its operations in 2021 was presented as a testament to the industry’s potential for balancing energy needs with environmental responsibilities. Jafar emphasised the importance of enabling developing countries to access cleaner, low-cost sources of energy as a critical component of the global effort against climate change. The symposium highlighted the critical and immediate need for increased investment in natural gas development to avert potential supply imbalances and bolster a sustainable energy transition. Jafar emphasised, “We must strive for equilibrium in the energy trilemma of affordability, availability, and sustainability.” He called for a unified approach to energy investment that takes into account the specific needs of the developing world. Jafar expanded on the global challenge of ensuring secure and affordable energy supplies while simultaneously decarbonising the energy system to mitigate climate change. He pointed to the recent energy crisis in Europe as a cautionary tale, attributing it to a significant underinvestment in oil and gas infrastructure. This lack of investment has forced developing nations, including India and China, to increasingly depend on coal, thereby exacerbating emissions and hindering progress in addressing the energy trilemma. In his address, Jafar underscored the interconnected nature of energy security, affordability, and environmental sustainability, stating the need for a holistic approach to energy policy. He argued that without adequate investment in natural gas and other transitional energy sources, countries risk severe energy shortages and economic disruptions. This lack of investment forces nations, particularly populous ones like India and China, to rely on coal, hampering their development and posing a substantial setback to global climate goals. Jafar stressed that balanced and inclusive energy investment is crucial. By focusing resources on developing natural gas infrastructure and transitional energy technologies, immediate energy needs can be met while paving the way for a sustainable future. He called for collaboration between the public and private sectors to create a supportive framework for sustainable energy development, ensuring accessible, clean, and affordable energy. OAG_World Energy Transition Leaders 2024_82-89_Morocco Oman Green Hydrogen_13332249.indd 88OAG_World Energy Transition Leaders 2024_82-89_Morocco Oman Green Hydrogen_13332249.indd 8810/07/2024 09:4710/07/2024 09:47OAG_World Energy Transition Leaders 2024_1-11_Title, contents, flannel, Editors letter, profile_13332844.indd 2OAG_World Energy Transition Leaders 2024_1-11_Title, contents, flannel, Editors letter, profile_13332844.indd 210/07/2024 09:1310/07/2024 09:13Published by and © 2024 ITP Media Group. All rights reserved. Untitled-14 518/07/2024 10:47Next >