Saudi Arabia Signs Energy Co-operation Deals with Kuwait, Qatar and Egypt

Saudi Arabia has signed memoranda of understanding with Kuwait, Qatar and Egypt to expand cooperation across several energy sectors.

The agreements cover areas including electricity, renewable energy, oil, gas and petrochemicals. Saudi Energy Minister Prince Abdulaziz bin Salman signed the memoranda with the respective ministers from the three countries.

Under the agreement with Kuwait, the two sides will cooperate on electricity, renewable energy, power-grid connections, electricity exports, energy efficiency, storage and smart grids. The memorandum also includes digital transformation, artificial intelligence, cybersecurity, innovation and localising energy-related products and services.

Saudi Arabia and Kuwait will also work on technologies to address climate change, including solutions related to the circular carbon economy.

The Qatar memorandum covers oil and petroleum products, natural gas, refining, petrochemicals, electricity, clean hydrogen and renewable energy. It also provides for cooperation on energy efficiency, storage and potential joint pipeline projects to transport and export oil and gas.

The two countries will explore collaboration on sustainable petrochemical materials and energy infrastructure, and coordinate on international discussions on energy transition and climate change, including under the United Nations Framework Convention on Climate Change and the Paris Agreement.

The agreement with Egypt focuses on crude oil, petroleum products and natural gas, including trade, transport, storage, distribution and related infrastructure. The countries aim to strengthen energy-market integration, supply-chain resilience and energy security.

The memorandum also provides for Saudi Arabia to share expertise in operating and maintaining fuel stations and service centres, as well as its experience opening the liquefied petroleum gas sector to competition.

Co-operation with Egypt will also extend to petrochemicals and investment in existing and planned projects. Activities will be carried out under the laws of both countries and on mutually beneficial commercial terms, SPA reported.