Saudi Arabia has signed MoUs with Kuwait, Qatar and Egypt to establish frameworks for co-operation across a range of energy sectors, reported the Saudi Press Agency (SPA).

The deal covers electricity, renewable energy, oil, gas and petrochemicals sector, said the report. 

Saudi Minister of Energy and Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz signed the agreements with Kuwait’s Minister of Electricity, Water and Renewable Energy Dr Subaih Abdulaziz Abdulmohsen Al Mukhizim; Qatar’s Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi and Egypt’s Minister of Petroleum and Mineral Resources Eng. Karim Badawi.

The agreement with Kuwait covers electricity, renewable energy, power grid interconnection, electricity exports, energy efficiency, storage and smart grids. It also includes cooperation in digital transformation, artificial intelligence, cybersecurity and innovation, as well as efforts to localise energy-related products and services.

The two countries will also co-operate on technologies to mitigate climate change, including solutions linked to the circular carbon economy, stated the report.

The memorandum with Qatar covers oil, petroleum products, natural gas, refining, petrochemicals, electricity, clean hydrogen and renewable energy, as well as energy efficiency and storage.

The agreement also provides for the two countries to explore joint projects involving pipelines for transporting and exporting oil and gas, sustainable petrochemical materials and infrastructure to improve access to energy.

As per the deal, Saudi Arabia and Qatar will also coordinate on international energy transition and climate change discussions, including negotiations under the United Nations Framework Convention on Climate Change and the Paris Agreement.

The agreement with Egypt focuses on cooperation in crude oil, petroleum products and natural gas, including trade, transportation, storage, distribution and related infrastructure and logistics.

The two countries aim to strengthen energy market integration, improve supply chain resilience and enhance energy security to meet domestic and regional demand, SPA said.

The memorandum also provides for the exchange of Saudi expertise in fuel station and service centre operations and maintenance, as well as the Kingdom's experience in opening its liquefied petroleum gas sector to competition.

Cooperation will also extend to petrochemicals and investment in existing and planned projects, with activities conducted under the laws of both countries and on mutually beneficial commercial terms, it added.