Future Energy Breakthroughs: Implications for the Hydrocarbon Economies of the Arabian Gulf

Abstract

AbstractCountries in the Arabian Gulf are reliant upon hydrocarbons for revenues, exports, industries and funding services. It is largely assumed that the global energy transition will be gradual, as reflected in planning and strategy documents. However, energy breakthroughs can change the global energy system. This Perspective article seeks to provoke a discussion about potential energy breakthroughs, the plausibility of their rapid expansion at scale, and the implications they may have for the hydrocarbon economies in the Arabian Gulf. Based upon feasibility, scalability, and adoption potential energy breakthroughs are outlined, their probability are assessed, and potential impacts on the hydrocarbon economics of the region are evaluated. The calls to actions are concluded with aim to support the region to be better prepared to track breakthroughs, and be proactively engaged to benefit from them. These include: 1) annual regional research‐policy interface meetings, 2) tailored research and development funding that fosters regional collaboration, 3) investment into breakthrough technologies and energy transition inputs, and 4) seeking synergy in economic diversification regionally to avoid duplication and counterproductive competition.