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Surging energy prices could create “an imbalanced transition” to a low-carbon future, energy executives warned at an international gathering in Houston on Monday.

Higher prices of fossil fuels “might jeopardize the development” of renewable alternatives, TotalEnergies SE CEO Patrick Pouyanne told the World Petroleum Congress, according to a report from Bloomberg.

“Some Asian countries about to switch from coal to gas might be discouraged by too high energy prices,” he added.

The comments were made at the same event where Saudi Aramco CEO Amin Nasser said that renewable energy supplies are not yet robust enough to sideline fossil fuels, Bloomberg reported.

Bloomberg noted that Aramco — the government-owned Saudi Arabian public petroleum and natural gas company — raised prices on Sunday for crude it’ll ship out next month “a signal that the world’s largest oil exporter is bullish on demand.”

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Meanwhile, Anders Opedal, CEO of Norwegian oil giant Equinor ASA told the conference that energy price spikes worldwide underscore the risks of “an imbalanced transition” to renewable energy.

The World Petroleum Congress included a smaller roster of energy executives and government ministers than planned amid the fast-growing spread of the omicron COVID-19 variant, Reuters reported.

It noted the impact of the latest variant comes as the industry struggles with shortages of natural gas and power in Asia and Europe from output losses prompted by the pandemic.

Multi-year-high energy prices recently retraced gains with new lockdowns, although were up Monday after Saudi Arabia boosted the prices of its crude, days after the OPEC+ alliance agreed to boost output.

Western Texas Intermediate and Brent Crude were both up by about 5% on Monday afternoon, trading around $69.72 a barrel and $73.36, respectively. Natural gas, meantime, was down 11% to $3.68.