GCC Economies in an Era of Energy Transition – Third ERF GCC Conference

FromOct 30, 2023 To Oct 31, 2023

Saudi Arabia

This conference is the third since the launch of the GCC Economic Research Initiative (GCCERI) in 2019. This strategic partnership was built around a network of GCC-based public policy institutions, universities and GCC-focused researchers within the ERF research community that share ideas and collaborate on policy-oriented research. The GCCERI works on advancing economic research capacities in the GCC region by bridging knowledge gaps and addressing the region’s major economic and human development challenges.

This conference is hosted by the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Riyadh during the fall of 2023. It aims to build on the previous two events and to solidify GCCERI as a regular platform for research and policy dialogue. The conference will mainly focus on diversification challenges and opportunities within the hydrocarbon sector in the light of the looming risks of stranded assets, but also the potential for integrating the hydrocarbon sector into the emerging decarbonization and energy transition regime. Moreover, the conference will also address other associated research and policy agenda, including the macroeconomic impacts of diversification and energy transition; as well as the implications of energy transition on the private sector and labor markets of the region.

The inaugural conference was launched during a two-day conference, at the College of Economics and Political Science of Sultan Qaboos University in Oman, which highlighted the economic achievements of the GCC countries during the last four decades. The GCCERI network met again virtually in March 2021 for a two-day event that discussed the economic repercussions of the COVID-19 pandemic on GCC countries and explored policy responses and lessons toward more efficient and resilient GCC economies.

 

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Agenda

Opening & Plenary 1 - Energy Transition and the GCC Future Development Strategy

Date

30/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 9:30 am To 11:00 am

The GCC economies had to deal with some strategic tradeoffs presented by the energy transitions and the decarbonization agenda. On one hand, if they perceive the pace of energy transition to be fast they might opt for accelerating their oil extraction to avoid being left with stranded assets. This strategy will eventually lead to low oil prices that will eventually fall below the breakeven oil price for GCC fiscal balances. Instead, should they reckon that the energy transition will likely take longer, they might target high oil rents through a strategy of coordinated management of supply. The underside risk entailed under this strategy will likely be the acceleration of the energy transition. However, energy transition itself may provide opportunities for a possibly more sophisticated, hybrid hydrocarbon-cum- renewable energy management strategy that would evolve over time toward achieving the full decarbonization agenda. Moreover, though strategies to decarbonize oil and gas production entail additional costs, which may reduce oil rents. However, they can transform the oil and gas industry from focusing only on generating rent to generating value and realizing profit margins, especially if they adopt various strategies to secure crude oil export outlets and hedge against oil demand reductions.

Speakers

Ibrahim Elbadawi

Research Fellows

Ibrahim Elbadawi

Managing Director, Economic Research Forum

Saad Al Qarni

Speakers

Saad Al Qarni

Vice President of Finance and Operations, KAPSARC

Fatima Al Shamsi

Speakers

Fatima Al Shamsi

Former Deputy Executive Director for Administrative Affairs...

Majid A. Al-Moneef

Research Fellows

Majid A. Al-Moneef

Chairman of the International Advisory Committee of...

Atif Kubursi

Research Fellows

Atif Kubursi

Professor, McMaster University

Nouf Nassir AlSharif

Speakers

Nouf Nassir AlSharif

Managing Director, Research Department, Jadwa Investment

Wael Almazeedi

Speakers

Wael Almazeedi

Co-founder and Chief Executive Officer, Avance Labs

Videos

Date

30/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 11:30 am To 1:00 pm

Speakers

Raja M. Almarzoqi

Authors

Raja M. Almarzoqi

GCC Chief Negotiator, the Chief Economic Advisor...

Assil El Mahmah

Authors

Assil El Mahmah

Economic Advisor, Ministry of Economy and Planning...

Bedri Kamil Onur Tas

Research Fellows

Bedri Kamil Onur Tas

Associate Professor of Economics, College of Economics...

Papers

Working Papers
Does Accelerating the Energy Transition Affect Fiscal Sustainability in GCC Countries?

This paper examines the sustainability of fiscal policy in GCC countries, by exploring governments’ reaction... Read More

Videos

Date

30/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 11:30 am To 1:00 pm

Speakers

Atif Kubursi

Research Fellows

Atif Kubursi

Professor, McMaster University

Héla Miniaoui

Research Fellows

Héla Miniaoui

Associate Professor, Lusail University, Qatar

Zouhair Mrabet

Research Fellows

Zouhair Mrabet

Associate Professor, College of Business and Economics,...

Mouyad Alsamara

Research Fellows

Mouyad Alsamara

Associate Professor of Economics, College of Business...

Date

30/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 2:00 pm To 3:30 pm

Speakers

Fatima Al Shamsi

Speakers

Fatima Al Shamsi

Former Deputy Executive Director for Administrative Affairs...

Radia Sedaoui

Speakers

Radia Sedaoui

Chief Energy Section, Sustainable Development Policies Division,...

Aaisha Al-Sarihi

Speakers

Aaisha Al-Sarihi

Research Fellow, National University of Singapore’s Middle...

Ahmed Albalawi

Speakers

Ahmed Albalawi

Lead (Utilities & Renewables), KAPSARC

Videos

Date

30/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 2:00 pm To 3:30 pm

Speakers

Omar Ahmad Yusuf Al-Ubaydli

Research Fellows

Omar Ahmad Yusuf Al-Ubaydli

Director of Research, Derasat, Bahrain

Marcello Contestabile

Speakers

Marcello Contestabile

Chief Economist, Qatar Environment and Energy Research...

Talal Al-Aulaqi

Speakers

Talal Al-Aulaqi

SPE Oman Section Technical Director

Qais Alsuwaidi

Speakers

Qais Alsuwaidi

Vice President Sustainability, Abu Dhabi National Energy...

Date

30/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 4:00 pm To 5:30 pm

Speakers

Ibrahim Elbadawi

Research Fellows

Ibrahim Elbadawi

Managing Director, Economic Research Forum

Klaus Schmidt-Hebbel

Authors

Klaus Schmidt-Hebbel

Professor of Economics at Universidad del Desarrollo

Majid A. Al-Moneef

Research Fellows

Majid A. Al-Moneef

Chairman of the International Advisory Committee of...

Date

30/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 4:00 pm To 5:30 pm

Speakers

Hala Abou-Ali

Research Fellows

Hala Abou-Ali

Professor of Economics, Faculty of Economics and...

Ismail Radwan

Speakers

Ismail Radwan

Lead Public Sector Specialist, Europe and Central...

Nader Kabbani

Research Fellows

Nader Kabbani

Director of Research and Director of the...

Zafiris Tzannatos

Authors

Zafiris Tzannatos

Senior Fellow, Jordan Strategy Forum

Ismail H. Genc

Authors

Ismail H. Genc

Professor of Economics, Department of Economics, American...

Videos

Date

30/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 6:00 pm To 7:30 pm

Speakers

Hamad Altowaijri

Speakers

Hamad Altowaijri

Associate Professor of Economics, College of Business...

Ricardo Hausmann

Speakers

Ricardo Hausmann

Rafik Hariri Professor of the Practice of...

Christian Haefke

Speakers

Christian Haefke

Professor of Economics, NYU Abu Dhabi

Hamid Eltgani Ali

Research Fellows

Hamid Eltgani Ali

Professor of Economics and Public Policy, Doha...

Videos

Agenda

Plenary 3 - Innovation and technological change in GCC hydrocarbon sector

Date

31/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 9:00 am To 10:30 am

Speakers

Yousef Hamad Al-Ebraheem

Research Fellows

Yousef Hamad Al-Ebraheem

Former Minister of Finance, Kuwait

Adel Ben Youssef

Research Fellows

Adel Ben Youssef

Professor of Economics, University Côte d'Azur

Nathalie Hilmi

Speakers

Nathalie Hilmi

Specialist in Macroeconomics and International Finance

Date

31/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 11:00 am To 12:30 pm

Speakers

Abdulmajeed Alshatti

Speakers

Abdulmajeed Alshatti

Supreme Petroleum Council, Kuwait

Husam Arman

Speakers

Husam Arman

Research Specialist, Kuwait Institute for Scientific Research...

Sulyman Al-Qudsi

Research Fellows

Sulyman Al-Qudsi

Principal Research Specialist, Kuwait Institute for Scientific...

Ahmad Shareef Alawadhi

Research Associates

Ahmad Shareef Alawadhi

Associate Research Scientist, Kuwait Institute for Scientific...

Date

31/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 11:00 am To 12:30 pm

Speakers

Nader Kabbani

Research Fellows

Nader Kabbani

Director of Research and Director of the...

Muez Ali

Speakers

Muez Ali

Research and Policy Associate, Earthna: Center for...

Videos

Date

31/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 11:00 am To 12:30 pm

Speakers

Essahbi Essaadi

Research Fellows

Essahbi Essaadi

Assistant Professor, University of Manouba, Tunisia

Ahmed Elsayed

Research Fellows

Ahmed Elsayed

Associate Professor of Financial Economics, United Arab...

Date

31/10/2023

Location

KAPSARC - Saudi Arabia

Time

From 1:00 pm To 3:00 pm

Speakers

Ibrahim Elbadawi

Research Fellows

Ibrahim Elbadawi

Managing Director, Economic Research Forum

Mahmoud Mohieldin

Senior Associates

Mahmoud Mohieldin

Professor, Department of Economics - Cairo University,...

Fatih Karanfil

Research Fellows

Fatih Karanfil

Principal Fellow, KAPSARC

Essahbi Essaadi

Research Fellows

Essahbi Essaadi

Assistant Professor, University of Manouba, Tunisia

Sulyman Al-Qudsi

Research Fellows

Sulyman Al-Qudsi

Principal Research Specialist, Kuwait Institute for Scientific...

Moez Ben Tahar

Authors

Moez Ben Tahar

Assistant Professor Faculty of Economics and Management...

Videos