The Saudi Minister of Energy, Prince Abdulaziz bin Salman, has said that coordination with OPEC+ countries is the "cornerstone" of Saudi efforts to enhance the stability of global oil markets and maintain their balance and security.
Prince Abdulaziz affirmed that Saudi Arabia's interest in cooperation with Arab countries in energy is an integral part of its interest in boosting relations with them.
The official told Saudi Press Agency (SPA) Thursday that the cooperation is embodied in coordination for joint Arab action in numerous projects, programs, and initiatives.
He said that his country had signed several memorandums of understanding (MoU) with Arab countries in the energy sector to enhance cooperation in electricity, renewable energy, clean hydrogen, petroleum and gas, petrochemicals, and other energy-related fields.
The minister added that there are also electrical interconnection projects between the Kingdom and Arab countries, connecting Saudi Arabia to all the Gulf countries, and direct interconnection projects being implemented between the Kingdom and Iraq, Jordan, and Egypt.
Prince Abdulaziz noted that these projects aim to enhance the security and reliability of interconnected national networks and increase their ability to absorb the entry of renewable energy projects.
They also help create a regional commercial market for the exchange and passing of electric energy to achieve optimal investment and operation of national generation stations, export renewable energy, and link the Middle East and North Africa networks.
He stressed that coordination and cooperation with Arab countries are continuous, whether through councils or joint committees in the various fields of energy and related issues.
It included exchanging expertise in electricity, renewable energy, efficient energy production and consumption, digital transformation in energy uses and its applications, climate change programs, and plans, including the circular carbon economy approach, emissions reduction techniques, and others.
He hoped the Arab League’s Jeddah summit would be a new opportunity to achieve more significant and practical cooperation, integration, and coordination between Arab countries in all fields.
