Saudi Arabia and France have agreed on a collaborative partnership to boost cooperation in the electricity sector.
This includes sharing knowledge on renewable energy generation, electric interconnection initiatives, and promoting private sector involvement in various aspects of electricity projects such as generation, transmission, distribution, storage, and network automation technologies.
Saudi Energy Minister Prince Abdulaziz bin Salman met with Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic, and issued a joint communiqué.
According to the communiqué, both countries have agreed to engage in joint efforts to enhance energy efficiency, and to promote their cooperation in the field of nuclear energy in a peaceful and safe framework, the management of radioactive waste and nuclear applications, and the development of human capabilities.
Addressing climate change and promoting secure, reliable, affordable, and sustainable supplies of energy are shared strategic priorities of Saudi Arabia and France.
Saudi Arabia and France also acknowledged that energy is one of the main pillars of their mutual long-term partnership, and the two countries affirmed their commitments by signing an MoU to cooperate in the Field of Energy on 2 February 2023.
Additionally, both countries recognized the importance of advancing the implementation of the UN Framework on Climate Change (UNFCCC) and the Paris Agreement in accordance with the principles, objectives, and goals defined therein, including pursuing efforts to limit the temperature increase to 1.5°C.
Moreover, the two countries recognize that clean hydrogen is an essential fuel to reach the shared objective of promoting sustainable economic development while mitigating the impact of climate change.
Both countries agreed to cooperate on advancing climate technologies and solutions including carbon capture utilization and storage for hard-to-abate sectors such as cement, aviation, marine, and petrochemicals, among others.
Saudi Arabia aims to become the leading exporter of hydrogen and electricity produced from low-emission resources globally, capitalizing on its ability to produce hydrogen and electricity produced from low-emission resources at a competitive cost.
The Kingdom has the necessary resources of renewable energy, natural gas, and carbon sinks, to export hydrogen in addition to its strategic location with proximity to major global demand centers.
