The State of Qatar and the Kingdom of Saudi Arabia have signed a memorandum of understanding – MoU that sets the framework for joint cooperation between the two fraternal countries with regards to various energy industry aspects.
HE Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi and HRH Minister of Energy of the Kingdom of Saudi Arabia Prince Abdulaziz bin Salman Al Saud signed the agreement on the sidelines of the 17th International Energy Forum Ministerial Meeting and the 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia, as a part of the Riyadh Energy Week.
The MoU that takes into account numerous energy industry aspects contemplates cooperation in oil and gas sectors and their derivatives, refining, petrochemicals, electricity, clean hydrogen along with its derivatives, renewable energy, and energy efficiency and storage.
The deal included collaboration on climate change mitigation technologies in the areas of emission reduction as well as sustainability, including carbon capture, transport, reuse, and storage solutions. It also focused on strengthening joint international cooperation and coordination on energy, sustainability, and climate change issues in appropriate international initiatives and frameworks.
This MoU shall come into force upon completion of legal procedures in the State of Qatar and the Kingdom of Saudi Arabia.