Bapco Energies set to launch three ventures

Bapco Energies, Bahrain’s national energy company, will be introducing three new ventures, the company’s top official has said.

Demonstrating collaborative opportunities within the kingdom’s flourishing energy sector, the new projects will focus on maximising enterprise value through investments in cutting-edge technologies and renewable energy, said Bapco Energies chief executive Mark Thomas during the Global Water Energy and Climate Change Congress (GWECCC).

He was speaking in a leadership panel addressing the energy trilemma – ‘Affordability, Security, Sustainability’.

Mr Thomas joined experts in discussing how a realistic energy transition would require an inclusive approach, valuing all technologies, sustainable financing and low-carbon energy sources while considering the energy trilemma by balancing security of energy supply, energy affordability and environmental sustainability.

He stated: “The timing of this event could not be more fitting. It coincides with Bahrain’s concerted efforts to transition towards a low carbon future guided by the National Energy Strategy. Our commitment to sustainability, affordability, and security of supply, as expressed in Bahrain’s Economic Vision 2030, inspires our transformative journey.”

Under its wise leadership, the kingdom has set ambitious targets to decarbonise its national economy, aligning with its COP26 commitments to achieve net-zero by 2060.

“As a progressive national oil company we have taken significant strides to align our operations with the kingdom’s sustainability ambitions,” the official said reaffirming Bapco Energies’ commitment to the kingdom’s vision.

“In the past month, we have expanded our financing capabilities, proudly launching our Sustainability Linked Finance Framework in partnership with Standard Chartered Bank. In doing so, we became the first national oil company in the world to directly link financing to our decarbonisation targets, encompassing Scope 3 emissions.”

Referring to the Bapco modernisation programme, Mr Thomas said once completed it will be one of the most efficient, complex, and modern refineries within the region.

Held under the patronage of Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa, the event, which saw the participation of regional and global energy leaders, concludes today.

The event serves as an important platform for energy leaders to discuss the pressing challenges posed by climate change and explore future pathways.

 


Source: https://www.gdnonline.com/Details/1290431/Bapco-Energies-set-to-launch-three-ventures

 

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