Friday, 4 July 2025

Saudi Arabia, Iraq agree to complete work on gas, ‎petrochemical, electricity, renewable energy projects

Yesterday, Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, held a meeting with the Deputy Prime Minister for Energy Affairs and Minister of Oil of the Republic of Iraq, Eng. Hayan Abdul Ghani Al-Sawad, who is visiting the Kingdom.

The two sides discussed issues of common interest in the fields of energy and agreed to complete work on a number of joint projects of importance in the fields of gas, petrochemicals, electricity and renewable energy, and to intensify communication between the two sides to discuss more joint opportunities in those areas and translate them into tangible partnerships.

Both ministers appreciated the progress made in the electrical interconnection project between the two brotherly countries, stressing the importance of speeding up the implementation of the project and increasing the capacity of the interconnection line in the future to accommodate the aspirations of the two brotherly countries in international electrical interconnection and the export of electric energy.

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The two sides also stressed the importance of enhancing cooperation between the two countries in the fields of electricity and renewable energy, including the operation and maintenance of electrical networks and stations, and cooperation in projects and development of renewable energy stations.

It was agreed to enhance cooperation between the two countries in the field of clean technologies to manage emissions of hydrocarbons, within the framework of the initiatives emanating from the “Green Middle East” initiative, which is based on the circular carbon economy approach, which includes the establishment of a knowledge center and a regional complex for carbon capture and use. And storing it, with the aim of managing and reducing emissions to combat the effects of climate change, stressing the importance of exchanging experiences in the field of reducing greenhouse gas emissions, including carbon, reducing methane emissions, reducing gas burning in flares, and benefiting from the Kingdom’s experience in the liquid fuel displacement program.

They also reviewed developments in the global oil markets, stressing the importance of working collectively within the framework of the OPEC Plus agreement, and the commitment of their countries to the recent decision of the OPEC Plus group, which extends to the end of 2023 AD, which was supported by the member states of OPEC Plus, in addition to the possibility of taking other measures. It guarantees the achievement of balance and stability in the global markets, if the need arises.

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