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Saudi Arabia, France sign MoU energy cooperation

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Riyadh

Saudi Arabia and France have signed a Memorandum of Understanding (MoU) to strengthen cooperation in the energy sector with a focus on clean energy generated from renewable resources.

In a joint statement published by the Saudi Press Agency (SPA) on Sunday following a meeting in Riyadh between Saudi Energy Minister Abdulaziz bin Salman and his visiting French counterpart Agnes Pannier-Runacher, the two countries acknowledged that energy “in is one of the main pillars of their long-term partnership”.

It added that Saudi Arabia and France have agreed on a roadmap for cooperation in the production of hydrogen and electricity from renewable resources.

It added that both countries recognize that clean hydrogen is an essential fuel to reach their common goal of promoting sustainable economic growth while mitigating the effects of climate change.

They also agreed to work together to improve energy efficiency and strengthen their cooperation in the areas of nuclear energy in a “peaceful and secure framework”, radioactive waste management and nuclear applications.

Additionally, the two sides also agreed to join hands in finding innovative solutions to produce hydrogen “in the most cost-effective and competitive manner” and promote its use in industry, power generation, buildings and other sectors.

It added that both countries said they support the establishment of a joint task force to ensure the fruits of their cooperation.

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