Saudi Arabia signs 4 memorandums of understanding with Mongolia, Tanzania, Cyprus and Mauritius for cooperation in the fields of energy

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Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy and Minister of Industry and Mineral Resources, signed four memorandums of understanding for cooperation in various fields of energy, with the relevant ministers in the Republic of Mongolia, the United Republic of Tanzania, the Republic of Cyprus, and the Republic of Mauritius.

The signing of the agreements came on the sidelines of the twenty-fifth edition of the World Petroleum Conference (WPC) in Saudi Arabia, which continues until October 15, under the slogan “Paths to an Energy Future for All.”

Prince Abdulaziz bin Salman signed: With the Deputy Prime Minister of the Republic of Mongolia, Tugmed Dorjkhand, a memorandum of understanding aims for cooperation between the two countries in the oil and gas sector and their derivatives, refining, petrochemicals, electricity, electrical interconnection, renewable energy, energy efficiency, energy storage, and technologies and solutions related to mitigating the effects of climate change, including circular carbon economy solutions.

The memorandum includes cooperation in the fields of digital transformation, innovation, applications of cybersecurity and artificial intelligence in the energy sector, and the development of qualitative partnerships between the two countries, to secure materials, products and services related to all energy sectors, supply chains and their technologies, the use and development of sustainable petrochemical materials in construction and other sectors, cooperation between companies specialized in the fields of energy, and support for the implementation of large-scale projects in the electricity sector and exploitation of renewable energy in both countries.

The Saudi Minister also signed, with the Minister of Energy of the United Republic of Tanzania, Juma Zubiri Humaira, a memorandum of understanding for cooperation between the two countries in the areas of supplying refined petroleum products, exploring opportunities related to their infrastructure, evaluating opportunities related to liquefied natural gas, and exchanging technical knowledge in the field of oil and gas exploration, and petrochemical production opportunities.

The memorandum with Tanzania includes the areas of electricity, renewable energy, enhancing energy efficiency, exchanging technologies and solutions related to mitigating the effects of climate change, including clean cooking solutions, the concept of the circular carbon economy and its technologies, exploring opportunities related to the oil demand sustainability program, transportation and fuel sector infrastructure, and cooperation in the areas of digital transformation, innovation, and applications of cybersecurity and artificial intelligence in the energy sector.

Prince Abdulaziz also signed with the Minister of Energy, Trade and Industry of the Republic of Cyprus, Michael Damianos, a memorandum of understanding aimed at establishing a framework for cooperation between the two countries in the oil and gas sector and their derivatives, refining, petrochemicals, electricity, clean hydrogen and its derivatives, renewable energy, energy efficiency, energy storage, and technologies and solutions related to mitigating the effects of climate change, including circular carbon economy solutions and technologies. The memorandum also includes cooperation in the field of digital transformation and cybersecurity applications in the fields of Energy, and working to enhance and support common priorities in international policies, through relevant international multilateral negotiations, such as the United Nations Framework Convention on Climate Change and the Paris Agreement, in addition to the legal regulatory instrument related to plastic pollution. The memorandum also includes cooperation in the use and development of sustainable petrochemical materials in construction and other sectors, development of appropriate infrastructure for energy access, and cooperation between companies specialized in the fields of energy.

The Minister of Foreign Affairs, Regional Integration and International Trade of the Republic of Mauritius, Dhananjay Ramphole, also signed a memorandum of understanding for cooperation in the field of oil and gas and their derivatives, refining, petrochemicals, electricity, clean hydrogen and its derivatives, renewable energy, energy efficiency, energy storage, and technologies and solutions related to mitigating the effects of climate change, including circular carbon economy solutions and technologies, cooperation in the field of digital transformation, and cybersecurity applications in the energy sector.

The memorandum includes working to strengthen common priorities in international policies, and supporting them through relevant international multilateral negotiations, such as the United Nations Framework Convention on Climate Change, the Paris Agreement, and the legal regulatory instrument related to plastic pollution, cooperation in the use and development of sustainable petrochemical materials in construction and other sectors, and the development of appropriate infrastructure for energy access.