Riyadh:A memorandum of understanding (MoU) signaling joint cooperation in the energy industry has been signed between the State of Qatar and the Kingdom of Saudi Arabia.
According to Qatar News Agency, the agreement was signed by Qatar's Minister of State for Energy Affairs, Eng. Saad bin Sherida Al Kaabi, and Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman Al Saud. This took place during the 17th International Energy Forum Ministerial Meeting and the 25th WPC Energy Congress, which are part of the Riyadh Energy Week.
The MoU outlines collaboration in several energy sectors, including oil and gas, refining, petrochemicals, electricity, clean hydrogen, renewable energy, and energy efficiency and storage. It also encompasses areas such as emission reduction and sustainability, focusing on climate change mitigation technologies like carbon capture, transport, reuse, and storage solutions.
Additionally, the agreement aims to enhance international cooperation and coordination on energy, sustainability, and climate change issues within relevant global initiatives and frameworks. The MoU will become effective once the necessary legal procedures are completed in both countries.