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Saudi Arabia and France hold energy meeting

10 July 2023

The Saudi and French governments have affirmed plans to cooperate in the energy sector following a meeting in Riyadh between Saudi Energy Minister Abdulaziz bin Salman and France's Energy Transition Minister Agnes Pannier-Rucnacher.

This follows the signing in February of a preliminary agreement to cooperate on nuclear and renewable energy projects. That agreement was inked by Abdulaziz bin Salman and French Foreign Affairs Minister Catherine Colonna.

The latest statement indicates that both countries recognise “that clean hydrogen is an essential fuel to reach the shared objective of promoting a sustainable economic development while mitigating the impact of climate change”.

The two countries agreed to enhance cooperation in the field of electricity and exchange experiences in the field of electricity generation from renewable energy resources.

They will also cooperate on grid interconnection projects and encourage the participation of private sector companies in power sector projects including generation, transmission, distribution, storage and network automation technologies.

They have agreed to engage in joint efforts to enhance energy efficiency and boost cooperation in nuclear energy “in a peaceful and safe framework, the management of radioactive waste and the nuclear applications, and the development of human capabilities”.

According to the statement, Saudi Arabia and France have also agreed to cooperate on advancing climate technologies and solutions, including carbon capture utilisation and storage (CCUS) for hard-to-abate sectors such as cement, aviation, marine and petrochemicals, among others.

RELATED READ: Nuclear power investment potential grows

In February, the ministers also signed a memorandum of understanding (MoU) related to energy cooperation between the two countries.

The MoU encourages cooperation in “electricity, renewable energy, energy efficiency, energy storage, smart grids, oil and gas and their derivatives, refining, petrochemicals, and the distribution and marketing sectors”.

The MoU also covers cooperation in digital transformation; localisation of materials, products and services in the energy supply chain; and collaboration between companies and universities.

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Jennifer Aguinaldo

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