Saudi Minister of Energy: China is a strategic partner and top ‎destination for our petroleum exports

Prince Abdulaziz bin Salman, Minister of Energy, said that Saudi Arabia considers China a strategic partner, and that the Subcommittee of the Belt and Road Initiative, Major Investments and Energy seeks to promote alignment between the Kingdom and China’s visions for the future, especially in the field of energy, which includes many aspects of cooperation.

Under the chairmanship of Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, President of the Saudi side, Vice President of the National Development and Reform Authority in the People’s Republic of China, President of the Chinese side, Lian Weiliang, the fourth meeting of the Sub-Committee of the Belt Initiative was held – via video conference. And the road, major investments and energy, which fall under the high-level Saudi-Chinese joint committee, which is chaired, on the Saudi side, by Prince Muhammad bin Salman, Crown Prince and Prime Minister.

For his part, Lian Weiliang praised the Kingdom’s efforts to maintain the stability of global oil markets.

The Minister of Energy also added that the trade relationship between the two countries has achieved continuous annual growth in the past five years, as China has become the first destination for the Kingdom’s petroleum exports, stressing that the Kingdom will remain in this field, China’s reliable and reliable partner.

It is worth noting that the heads of the two sides in the Sub-Committee of the Belt and Road Initiative, Major Investments and Energy, discussed areas in which the Kingdom and China seek to strengthen their relationship; Such as petroleum, petrochemicals, decarbonization technologies, electricity, renewable energy, hydrogen, energy efficiency, peaceful uses of nuclear energy, supply chain security, in addition to cooperation in the field of industry, the fourth industrial revolution, mining, logistics, and civil aviation, aviation security, and the digital economy.

In addition, the two parties agreed to jointly coordinate their investments in the countries of the Belt and Road Initiative, as the proposed cooperation aims to ensure the security of oil and gas supplies to and demand for the initiative countries.