Saudi Arabia, France sign MOU for cooperation in energy field ‎

Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, met today in Riyadh with Her Excellency Catherine Colonna, Minister of Europe and Foreign Affairs of the Republic of France.

During the meeting, they discussed prospects for cooperation in the peaceful uses of atomic energy and future opportunities in various fields of energy, including areas of cooperation in renewable energy, clean hydrogen, and electrical interconnection.

They also signed a memorandum of understanding to set a framework for cooperation in the energy sector, which included encouraging cooperation between the two countries in the fields of electricity, renewable energy, energy efficiency, energy storage, smart grids, oil and gas and their derivatives, refining, petrochemicals, and the distribution and marketing sector.

The memorandum included enhancing cooperation in technologies for the purpose of mitigating the effects of climate change, including carbon capture, use and storage technology for sectors in which it is difficult to mitigate, hydrogen production, and other technical innovations.

The scope of the memorandum also dealt with areas of cooperation in digital transformation, localization of materials, products and services related to the energy sectors and supply chains, cooperation between companies specialized in the energy sector, conducting joint research with universities, research centers and others, and building human capacities through training and exchanging experiences in energy sector.