Saudi Arabia, Iraq to Complete Steps for Cooperation in Gas, Renewable Energy

Saudi Energy Minister Prince Abdulaziz bin Salman and Iraq’s Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani Al-Sawad meet in Riyadh on Thursday. (SPA)
Saudi Energy Minister Prince Abdulaziz bin Salman and Iraq’s Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani Al-Sawad meet in Riyadh on Thursday. (SPA)
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Saudi Arabia, Iraq to Complete Steps for Cooperation in Gas, Renewable Energy

Saudi Energy Minister Prince Abdulaziz bin Salman and Iraq’s Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani Al-Sawad meet in Riyadh on Thursday. (SPA)
Saudi Energy Minister Prince Abdulaziz bin Salman and Iraq’s Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani Al-Sawad meet in Riyadh on Thursday. (SPA)

Saudi Arabia and Iraq have agreed to complete work on a number of important joint projects in the fields of gas, petrochemicals, electricity and renewable energy, and to intensify communication between them to discuss more joint opportunities.  

This came during a meeting on Thursday between Saudi Energy Minister Prince Abdulaziz bin Salman, and Iraq’s Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani Al-Sawad.  

The officials pointed to the progress achieved in the joint electrical interconnection project, emphasizing the importance of accelerating the implementation of the plan and increasing the capacity of the linkage to meet the aspirations of their countries.  

A statement said that the officials stressed the need to enhance bilateral cooperation in the fields of electricity and renewable energy, including operating and maintaining electrical networks and stations, and developing renewable energy plant projects.  

They also agreed to strengthen cooperation in the area of clean technologies to reduce carbon emissions, within the framework of the Green Middle East initiative, which is based on the carbon circular economy approach and which includes the establishment of a knowledge center and a regional complex for carbon capture, use and storage.  

The meeting touched on the importance of exchanging experiences in the field of reducing greenhouse gas and methane emissions, and benefiting from the Kingdom’s experience in the liquid fuel displacement program.   

The two sides reviewed the developments in the global oil markets, stressing the importance of working collectively within the framework of the OPEC+ agreement, and underlined their countries’ commitment to the organization’s decision, which extends to the end of 2023. 



EU States Agree on 14th Sanctions Package Against Russia

The European Union flag inside the atrium during an EU summit at the European Council building in Brussels, Monday, June 17, 2024. (AP Photo/Omar Havana)
The European Union flag inside the atrium during an EU summit at the European Council building in Brussels, Monday, June 17, 2024. (AP Photo/Omar Havana)
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EU States Agree on 14th Sanctions Package Against Russia

The European Union flag inside the atrium during an EU summit at the European Council building in Brussels, Monday, June 17, 2024. (AP Photo/Omar Havana)
The European Union flag inside the atrium during an EU summit at the European Council building in Brussels, Monday, June 17, 2024. (AP Photo/Omar Havana)

European Union countries agreed on a 14th package of sanctions against Russia over its war in Ukraine, diplomats said on Thursday, including a ban on re-exports of Russian liquefied natural gas (LNG) in EU waters.
Belgium, which holds the rotating EU presidency until July 1, said on the X platform that the package "maximizes the impact of existing sanctions by closing loopholes".
Countries debated the new measures for over a month and ultimately watered down one of the Commission's proposals, aimed at preventing even more circumvention, at Germany's prompting, Reuters reported.
The dropped measure would have forced subsidiaries of EU companies in third countries to contractually prohibit the re-exports of their goods to Russia. The EU is keen to stop the flow of dual-use technology such as washing machine chips that could be used by Russia for military purposes.
An EU diplomat said Germany had asked for an impact assessment, and the measure could be included at a later date.
The ban on trans-shipments is the first restriction the bloc has applied to LNG. However, gas market experts say the measure will have little impact as Europe is still buying Russian gas itself, and trans-shipments via EU ports to Asia represent only around 10% of total Russian LNG exports.
The package also tightens measures against the shadow fleet moving Russian oil outside the price cap on Russian crude set by the Group of Seven (G7) nations. EU countries added tankers to the list of sanctioned entities as well as at least two Russian-owned ships moving military equipment from North Korea, diplomats said.
Overall, 47 new entities and 69 individuals were added to the EU sanctions list, bringing the total to 2,200. The package is expected to be formally approved when EU foreign ministers meet on Monday, diplomats said.