Riyadh:The State of Qatar and the Kingdom of Saudi Arabia have signed a memorandum of understanding (MoU) to establish a collaborative framework for energy industry cooperation between the two nations.
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. The signing took place during the 17th International Energy Forum Ministerial Meeting and the 25th WPC Energy Congress, both part of the Riyadh Energy Week.
The MoU encompasses various sectors, including oil, gas, refining, petrochemicals, electricity, clean hydrogen, renewable energy, and energy efficiency and storage. It also focuses on emission reduction and sustainability, specifically in climate change mitigation technologies like carbon capture, transport, reuse, and storage solutions.
Additionally, the agreement aims to enhance joint international cooperation on energy, sustainability, and climate change, aligning with relevant international initiatives and frameworks. The MoU will be effective following the completion of legal procedures in both Qatar and Saudi Arabia.