Critical for investment to flow to lowest-carbon energy

Investment needs to focus on the lowest-cost, lowest-carbon oil and gas resources, UAE Industry Minister Sultan al-Jaber said at the Munich Security Conference, the state news agency WAM reported on Saturday.

"For our collective security, the world will need to continue using all energy options for a long time," he was quoted as saying. "As such, it is critical to ensure investment flows to the lowest-cost, lowest-carbon oil and gas resources."

"We should acknowledge that the energy transition is exactly that: a transition, and transitions take time," said al-Jaber.