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Abstract

Many factors, local and global, will impact Saudi Arabia’s electricity sector and energy markets. The Kingdom has committed to deploying a significant share of renewable energy by 2030 and is considering plans to add nuclear power to its energy mix. At the same time, Saudi Arabia is investing to increase its non-associated gas supply. Globally, oil prices and energy dynamics will be affected by many climate-related initiatives and regulations, such as the new International Maritime Organization (IMO) rules that impose switching to low-sulfur fuels to reduce sulfur emissions by over 80%. Accurate supply modeling also requires understanding and projecting demand. The Kingdom has only recently embarked on its energy price reform journey, and initiatives related to industry electrification, distributed generation deployment, and energy efficiency will greatly affect future energy consumption.

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