Answer extracted from the Beyond the Deck podcast — listen to the full episode below.
How has the GCC energy sector shifted from oil and gas to a portfolio approach?
The GCC energy sector has moved from focusing on siloed subsectors like oil and gas to embracing a portfolio approach that integrates renewable energy, data centers, low-carbon molecules, and traditional hydrocarbons. This shift is guided by the energy trilemma—balancing sustainability, energy security, and affordability—rather than pursuing net zero as an isolated goal.
From Silos to Integration
Five years ago, the energy conversation across the GCC centered almost entirely on net zero commitments and phasing out hydrocarbons. Carmen Hamze, who has spent over 14 years working in energy strategy across the GCC, sees the landscape now as fundamentally different. The region has abandoned the single-solution mindset in favor of a diversified energy mix.
This portfolio approach recognizes that multiple energy sources will coexist to meet the region's growing demand. Gas now serves as the backbone for stable power generation while renewables ramp up. Low-carbon molecules—including green hydrogen, liquefied natural gas (LNG), and carbon capture, utilization, and sequestration (CCUS)—sit alongside traditional oil and gas, each playing a specific role. As Carmen Hamze explains in the episode, this balanced thinking positions the GCC as a potential leader in sustainable energy strategy rather than simply a follower of global net-zero mandates.
The Energy Trilemma as Strategy
What distinguishes the GCC's current approach is its grounding in the energy trilemma: sustainability, energy security, and affordability must all be optimized simultaneously. This three-pillar framework prevents the region from pursuing environmental goals at the expense of reliable power or economic viability.
The rise of data centers and AI infrastructure exemplifies this balance. These sectors demand enormous amounts of electricity, yet they also create opportunities for innovation in renewable integration and efficient grid management. Discussed at length in the podcast, this convergence of digital demand and energy transformation could position the GCC as one of the world's largest integrated energy hubs—attracting investment in infrastructure, talent, and technology while maintaining both affordability and reliability.
"There's not one solution that's going to solve everything. It's multiple—green hydrogen will still be in place, LNG and CCUS will be key."
Carmen Hamze — Partner at Rollenberger, energy strategy specialist with over 14 years of experience across the GCC. Hamze studied biology and began her career in biomedical research and healthcare consulting before transitioning to energy consulting at a GCC utility, where she built deep expertise in energy strategy and sustainability.
What makes the GCC's position particularly strong is that it recognized this complexity earlier than many other regions. As Carmen Hamze highlights in the Beyond the Deck episode, the global energy conversation has largely caught up to the balanced thinking the GCC adopted years ago, putting the region ahead in terms of both strategy and implementation readiness.
See also
What is the 'culture eats strategy for breakfast' lesson Nourhan Farhat learned moving from consulting to Kareem?
Farhat says the phrase 'culture eats strategy for breakfast' was common in consulting circles but only truly clicked for her once she became an operator at Kareem, where she realized that building the right organizational culture is what ultimately determines whether a strategy succeeds.
How does Nourhan Farhat manage work-life balance across her demanding professional and personal roles?
Farhat operates with what she calls a personal operating model with explicit boundaries communicated to both her team and her family: she is fully present during dedicated time blocks and protects key family moments as non-negotiables.
What did Nourhan Farhat learn from her time at Roland Berger that still shapes her leadership today?
Farhat says Roland Berger built resilience and a well-rounded problem-solving character in her, with consultants owning the full arc from defining a problem to implementing solutions, a discipline that informs her leadership approach.
Key takeaways
- The GCC has transitioned from pursuing single-solution energy strategies (net zero alone) to a diversified portfolio that includes renewables, gas, hydrogen, LNG, and CCUS.
- The energy trilemma—balancing sustainability, security, and affordability—guides regional energy policy more effectively than environmental mandates alone.
- Data centers and AI infrastructure represent both a challenge and an opportunity, driving innovation in renewable integration while reinforcing the need for reliable baseload power.
- The GCC's pragmatic approach to energy transition now aligns with global best practice, positioning the region as a potential world-leading integrated energy hub.