Saudi Arabia signed three memoranda of understanding with Kuwait, Qatar and Egypt to expand cooperation across the energy sector, including electricity, oil and gas, renewable energy and infrastructure development.
Saudi Energy Minister Prince Abdulaziz bin Salman signed the agreements with Kuwait’s Minister of Electricity, Water and Renewable Energy Subaih Abdulaziz Abdulmohsen Al-Mukhaizeem, Qatar’s Minister of State for Energy Affairs Saad bin Sherida Al-Kaabi, and Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi, the Saudi Press Agency reported.
The agreements provide for cooperation in technology, investment, energy storage and supply chains, as well as the development of joint projects.
The memorandum with Kuwait covers electricity generation and exports, renewable energy, power interconnection, energy efficiency, storage and smart grids.
It also provides for cooperation in digital transformation, cybersecurity, artificial intelligence and innovation, alongside efforts to develop local industries and promote climate-mitigation technologies.
The agreement with Qatar spans oil and gas, refining, petrochemicals, electricity, clean hydrogen and renewable energy. The two countries will also explore joint ventures to develop oil and gas export pipelines and encourage the use of sustainable petrochemical products in construction and other industries
The memorandum also provides for coordination on international energy-transition and climate issues, including negotiations under the UN Framework Convention on Climate Change and the Paris Agreement, as well as efforts to establish an international treaty on plastic pollution.
The agreement with Egypt focuses on crude oil, petroleum products and natural gas, covering trade, transportation, storage, distribution and logistics. It aims to improve energy-market integration, strengthen supply chains and enhance energy security on a commercial basis and in accordance with the laws of both countries.
Saudi Arabia will also share its expertise in upgrading and operating fuel stations in Egypt, while the two sides will explore cooperation to promote competition in Egypt’s liquefied petroleum gas sector and expand investment in petrochemicals and existing and planned projects
