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.
Read more:
- The Saudi Economy in an Era of Energy Transition, by Dr. Majid A. Al-Moneef, ERF Senior Fellow, Chairman, Saudi Association for Energy Economics.
- The Economic Research Forum and the GCC Initiative | English | Arabic
- Download Full Conference Agenda
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
Research Fellows
Ibrahim Elbadawi
Managing Director, Economic Research Forum
Speakers
Saad Al Qarni
Vice President of Finance and Operations, KAPSARC
Speakers
Fatima Al Shamsi
Former Deputy Executive Director for Administrative Affairs...
Research Fellows
Majid A. Al-Moneef
Chairman of the International Advisory Committee of...
Research Fellows
Atif Kubursi
Professor, McMaster University
Speakers
Nouf Nassir AlSharif
Managing Director, Research Department, Jadwa Investment
Speakers
Wael Almazeedi
Co-founder and Chief Executive Officer, Avance Labs
Videos
Parallel Session - Fiscal and Monetary Aspects of Energy Transitions
Date
30/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 11:30 am To 1:00 pm
Speakers
Authors
Raja M. Almarzoqi
GCC Chief Negotiator, the Chief Economic Advisor...
Authors
Assil El Mahmah
Economic Advisor, Ministry of Economy and Planning...
Research Fellows
Bedri Kamil Onur Tas
Associate Professor of Economics, College of Economics...
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
Presentations
Videos
Energy Transitions, Growth and Economic Diversification
Date
30/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 11:30 am To 1:00 pm
Speakers
Research Fellows
Atif Kubursi
Professor, McMaster University
Research Fellows
Héla Miniaoui
Associate Professor, Lusail University, Qatar
Research Fellows
Zouhair Mrabet
Associate Professor, College of Business and Economics,...
Research Fellows
Mouyad Alsamara
Associate Professor of Economics, College of Business...
Special Panel Session (A) - Renewable energies in GCC and the diversification of the economy
Date
30/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 2:00 pm To 3:30 pm
Speakers
Speakers
Fatima Al Shamsi
Former Deputy Executive Director for Administrative Affairs...
Speakers
Radia Sedaoui
Chief Energy Section, Sustainable Development Policies Division,...
Speakers
Aaisha Al-Sarihi
Research Fellow, National University of Singapore’s Middle...
Speakers
Ahmed Albalawi
Lead (Utilities & Renewables), KAPSARC
Videos
Special Panel (B) - The potential of energy efficiency in GCC countries
Date
30/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 2:00 pm To 3:30 pm
Speakers
Research Fellows
Omar Ahmad Yusuf Al-Ubaydli
Director of Research, Derasat, Bahrain
Speakers
Marcello Contestabile
Chief Economist, Qatar Environment and Energy Research...
Speakers
Talal Al-Aulaqi
SPE Oman Section Technical Director
Speakers
Qais Alsuwaidi
Vice President Sustainability, Abu Dhabi National Energy...
Special Panel (C) - Macroeconomic agenda for decarbonization and energy transitions
Date
30/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 4:00 pm To 5:30 pm
Speakers
Research Fellows
Ibrahim Elbadawi
Managing Director, Economic Research Forum
Authors
Klaus Schmidt-Hebbel
Professor of Economics at Universidad del Desarrollo
Research Fellows
Majid A. Al-Moneef
Chairman of the International Advisory Committee of...
Special Panel (D) - Labor markets and private sector focus
Date
30/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 4:00 pm To 5:30 pm
Speakers
Research Fellows
Hala Abou-Ali
Professor of Economics, Faculty of Economics and...
Speakers
Ismail Radwan
Lead Public Sector Specialist, Europe and Central...
Research Fellows
Nader Kabbani
Director of Research and Director of the...
Authors
Zafiris Tzannatos
Senior Fellow, Jordan Strategy Forum
Authors
Ismail H. Genc
Professor of Economics, Department of Economics, American...
Videos
Plenary Session 2 - Product Space and within Hydrocarbon diversification potential
Date
30/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 6:00 pm To 7:30 pm
Speakers
Speakers
Hamad Altowaijri
Associate Professor of Economics, College of Business...
Speakers
Ricardo Hausmann
Rafik Hariri Professor of the Practice of...
Speakers
Christian Haefke
Program Head of MSc in Economics; Professor...
Research Fellows
Hamid Eltgani Ali
Dean, School of School of Public Administration...
Presentations
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
Research Fellows
Yousef Hamad Al-Ebraheem
Former Minister of Finance, Kuwait
Research Fellows
Adel Ben Youssef
Professor of Economics, University Côte d'Azur
Speakers
Nathalie Hilmi
Specialist in Macroeconomics and International Finance
Special Session on Kuwait
Date
31/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 11:00 am To 12:30 pm
Speakers
Speakers
Abdulmajeed Alshatti
Supreme Petroleum Council, Kuwait
Speakers
Husam Arman
Research Specialist, Kuwait Institute for Scientific Research...
Research Fellows
Sulyman Al-Qudsi
Principal Research Specialist, Kuwait Institute for Scientific...
Speakers
Ahmad Alawadhi
Associate Research Scientist, Kuwait Institute for Scientific...
Climate change and renewable energy
Date
31/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 11:00 am To 12:30 pm
Speakers
Research Fellows
Nader Kabbani
Director of Research and Director of the...
Speakers
Muez Ali
Research and Policy Associate, Earthna: Center for...
Videos
Energy transition and finance
Date
31/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 11:00 am To 12:30 pm
Speakers
Authors
Essahbi Essaadi
University of Manouba
Research Fellows
Ahmed Elsayed
Associate Professor of Financial Economics, United Arab...
Plenary 4 - Celebrating excellence and future outlook
Date
31/10/2023
Location
KAPSARC - Saudi Arabia
Time
From 1:00 pm To 3:00 pm
Speakers
Research Fellows
Ibrahim Elbadawi
Managing Director, Economic Research Forum
Senior Associates
Mahmoud Mohieldin
Professor, Department of Economics - Cairo University,...
Research Fellows
Fatih Karanfil
Research Fellow, KAPSARC
Authors
Essahbi Essaadi
University of Manouba
Research Fellows
Sulyman Al-Qudsi
Principal Research Specialist, Kuwait Institute for Scientific...
Authors
Moez Ben Tahar
Assistant Professor Faculty of Economics and Management...