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Saudi Arabia, Netherlands Sign MoU to Collaborate on Energy

The MoU was signed within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands. Photo: Energy Ministry
The MoU was signed within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands. Photo: Energy Ministry
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Saudi Arabia, Netherlands Sign MoU to Collaborate on Energy

The MoU was signed within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands. Photo: Energy Ministry
The MoU was signed within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands. Photo: Energy Ministry

Saudi Minister of Energy Prince Abdulaziz bin Salman Al Saud and the Dutch Minister of Economic Affairs and Climate Policy, Micky Adriaansens, have cosigned a memorandum of understanding (MoU) in the field of energy.
The MoU aims to establish a framework for cooperation between the two countries and strengthen it in several energy sectors, including renewable energy, energy efficiency, electricity, and other sectors and issues related to energy security and transitions, such as clean hydrogen. It also facilitates the formation and activation of international supply chains linking the two countries and cooperation on technologies and solutions related to climate change mitigation, such as the circular carbon economy and its technologies.

The MoU was signed on Thursday within the framework of the visit paid by the Saudi Minister of Energy to the Netherlands to attend the World Hydrogen 2023 Summit & Exhibition, which was held in Rotterdam from May 10 to 11.
Within the framework of many issues related to the global hydrogen industry and supplies, which were discussed in the summit, the prince participated in a session entitled, "The Global Aspirations of the Kingdom of Saudi Arabia in the Field of clean hydrogen."

He reviewed the global directions and aspirations of the Kingdom in this field and projects that are being implemented in Saudi Arabia.

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GCC Signs Landmark Electricity Market Connection with Iraq

Deputy Governor of the Eastern Province oversees the signing of a contract for the implementation of the project of linking the Gulf Electricity Market with Iraq (SPA)
Deputy Governor of the Eastern Province oversees the signing of a contract for the implementation of the project of linking the Gulf Electricity Market with Iraq (SPA)
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GCC Signs Landmark Electricity Market Connection with Iraq

Deputy Governor of the Eastern Province oversees the signing of a contract for the implementation of the project of linking the Gulf Electricity Market with Iraq (SPA)
Deputy Governor of the Eastern Province oversees the signing of a contract for the implementation of the project of linking the Gulf Electricity Market with Iraq (SPA)

The Gulf Cooperation Council (GCC) countries signed on Wednesday a contract to implement a project linking the Gulf electricity market with Iraq. The project aims to strengthen energy security and will allow the GCC states to supply Iraq with approximately 3.94 terawatt-hours of electricity annually at competitive prices.
The signing ceremony took place at the Gulf Electricity Interconnection Authority headquarters in Dammam (eastern Saudi Arabia), under the patronage of Prince Saud bin Bandar bin Abdulaziz, Deputy Governor of the Eastern Province.
The event also marked the inauguration of an upgrade to the control center systems of the Gulf Electricity Interconnection Authority. The ceremony was attended by the Authority’s CEO, Eng. Ahmed Al-Ibrahim, and the CEO of the Gulf Laboratory Company, Eng. Saleh Al-Omari.
The Deputy Governor launched the upgraded control center systems for the electricity interconnection network, designed to improve the efficiency and flexibility of electricity systems in addressing both current and future challenges.
The upgrade also enhances cybersecurity by adopting advanced technologies that offer high levels of protection against cyberattacks and growing threats, ensuring safe and efficient operations. This initiative is expected to contribute to improved grid stability, boost operational capacity, and support the transition to clean energy.
Prince Saud noted that the project linking Iraq to the Gulf electricity market will help ensure a sustainable energy supply, facilitate local projects, and enhance the stability of Iraq’s electrical grid. This will reduce reliance on costly traditional energy sources and increase the efficient use of available resources.
He added that the project is considered one of the key strategic initiatives that foster economic and social cooperation between the GCC and neighboring countries.
For his part, Al-Ibrahim said that since its launch, the project has successfully prevented any partial or total blackouts in GCC electricity networks by providing immediate emergency support. The interconnected grid, which spans over 1,000 kilometers from Kuwait to Oman, has facilitated more than 2,800 instances of power support since operations began, including over 50 cases of renewable energy loss.
He revealed that the project has so far saved approximately $3.6 billion in costs, compared to the project’s investment and operational expenses, which totaled around $1.5 billion.