Saudi Arabia signs three energy memorandums — Asharq Al-Awsat
Saudi Arabia has signed memorandums of cooperation in the energy sector with Kuwait, Qatar and Egypt. The agreements cover electricity, renewable energy sources, oil, gas, oil refining and the development of relevant infrastructure, Asharq Al-Awsat reports.
Cooperation with Kuwait
The memorandum with Kuwait’s Minister of Electricity, Water and Renewable Energy, Subaih Abdulaziz Al-Mukhaizeem, sets out a framework for cooperation in the electricity sector and renewable energy development. The document also covers power grid interconnections, electricity exports, energy efficiency, energy storage and the development of smart grids.
The memorandum includes digital transformation, innovation, cybersecurity and artificial intelligence. Saudi Arabia and Kuwait also plan to develop strategic partnerships between institutions, localize energy-related materials, goods and services, and cooperate on climate change mitigation technologies, including circular carbon economy solutions.
Oil, gas and clean hydrogen
The memorandum with Qatar’s Minister of State for Energy Affairs, Saad bin Sherida Al-Kaabi, covers oil and petroleum products, gas and its derivatives, oil refining, petrochemicals, electricity, clean hydrogen, renewable energy, energy efficiency and energy storage.
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The countries are to explore opportunities for joint projects, including the construction of pipelines for transporting and exporting oil and gas, the use of environmentally sustainable petrochemical materials in construction, and the development of energy infrastructure. Cooperation at international negotiations and forums on the energy transition and climate change is also envisaged.
Agreements with Egypt
Prince Abdulaziz bin Salman signed another memorandum with Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi. It concerns the trade, transportation, storage and distribution of crude oil, petroleum products and natural gas, as well as the development of logistics and infrastructure.
The document provides for sharing Saudi Arabia’s experience in the qualification, operation and maintenance of filling stations and service centers, as well as in opening the liquefied petroleum gas sector to competition. The parties will also expand cooperation in petrochemicals and investments in existing and planned projects.
