Saudi Arabia Signs Energy Cooperation Memoranda With Kuwait, Qatar and Egypt
RIYADH, October 12 (Saudi Arabia Breaking News) - Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz signed three memoranda of understanding with ministers from Kuwait, Qatar and Egypt, establishing separate frameworks for cooperation in electricity, renewable energy, oil, gas and related industries.
The memorandum with Kuwait’s Minister of Electricity, Water and Renewable Energy Dr. Subaih Abdulaziz Abdulmohsen Al-Mukhizim covers electricity, renewable energy, power grid interconnection and electricity exports. It also provides for cooperation in energy efficiency, storage and smart grids.
Saudi Arabia and Kuwait will seek to develop partnerships between institutions and companies and localize energy-related materials, products and services. Their framework also covers digital transformation, innovation, cybersecurity, artificial intelligence and climate change mitigation technologies, including Circular Carbon Economy solutions.
The memorandum with Qatar’s Minister of State for Energy Affairs Eng. Saad bin Sherida Al-Kaabi covers oil and petroleum products, gas and its derivatives, refining, petrochemicals, electricity, clean hydrogen and its derivatives, renewable energy, energy efficiency and storage.
Saudi Arabia and Qatar will explore opportunities for joint oil and gas transportation and export pipelines, sustainable petrochemical materials and infrastructure supporting access to energy. The framework also includes cooperation in international negotiations and forums, including those under the United Nations Framework Convention on Climate Change and the Paris Agreement, and negotiations on a legally binding international instrument on plastic pollution.
The memorandum with Egypt’s Minister of Petroleum and Mineral Resources Eng. Karim Badawi covers crude oil, petroleum products and natural gas, including trade, handling, transportation, storage and distribution. It also provides for cooperation in related infrastructure and logistics, with activities to follow both countries’ laws and regulations and be conducted on commercial terms serving their mutual interests.
The Saudi-Egyptian framework aims to strengthen energy market integration, supply chain resilience and energy security while helping meet domestic, regional and international demand. It also covers sharing Saudi expertise in fuel station and service centre qualification, operation and maintenance, experience in opening the liquefied petroleum gas sector to competition, and cooperation in petrochemicals and investment in ongoing and planned projects.
Source: SPA.
