Saudi Arabia Inks MoU with France to Strengthen Cooperation for Clean Energy Transition

Saudi Energy Minister Prince Abdulaziz bin Salman has signed a Memorandum of Understanding (MoU) with his French counterpart, Agnes Pannier-Runacher, to strengthen cooperation in the energy sector, with a focus on clean energy production from renewable resources.

According to a statement released by the official news agency of Saudi Arabia, France and Saudi Arabia have inked a pact on hydrogen and other renewable resources focusing on three pillars of technology development, business cooperation and policies & regulation.

The roadmap will promote the development of the hydrogen industry through mutual recognition of the certification framework including emission life cycle assessment from all sources required for consistency in international trade.

Apparently, Saudi Arabia and France countries would enhance their cooperation in developing and sustaining supply chains for the energy sectors and enable cooperation between companies for the maximum utilisation of resources available in both countries.

The two nations accept that energy is one of the main pillars of their long-term partnership and clean hydrogen is a significant resource to reach their common objective of promoting sustainable economic development and mitigating the challenges of climate change. The MoU signed after a meeting in Riyadh also calls for the creation of a ‘French-Saudi Task-Force’ to carry out the cooperation arrangement.