Saudi Arabia plans to further increase the capacity of the East-West oil pipeline.

Saudi Energy Minister Abdulaziz bin Salman said on the 12th, while attending the 25th World Petroleum Council Energy Congress, that Saudi Arabia plans to increase the capacity of the East-West oil pipeline to about 10 million barrels per day. In a ministerial dialogue at the World Petroleum Congress titled "Global Oil and Gas Market Outlook," Abdulaziz said Saudi Arabia is considering upgrading pumping stations, transmission pipelines, and other related facilities to further enhance the transmission capacity of the East-West oil pipeline. He said that building alternative transportation routes in advance and preparing for supply disruptions are very important for safeguarding energy security. OPEC Secretary-General Haitham Al Ghais said the East-West oil pipeline is of great significance for ensuring global energy supply. He also pointed out that insufficient investment in the oil and gas industry could threaten future energy supply. OPEC estimates that by 2050, the global oil and natural gas industry will need about 18 trillion U.S. dollars in investment. Abdulaziz said the current energy crisis has lasted a long time and has a wide impact, highlighting the fragility of the global energy supply chain. More flexible response measures should be taken, and a balance should be achieved among energy security, sustainability, price stability, and affordability. He also said that in recent years Saudi Arabia has made progress in renewable energy, battery energy storage, and other fields, and will continue to expand related production capacity in the future to meet new energy demand such as that created by the development of artificial intelligence.