RIYADH — Minister of Energy Prince Abdulaziz Bin Salman on Thursday held talks with his French and Greek counterparts virtually. They discussed the work needed to ensure stability in the international oil market.

Prince Abdulaziz and French Minister of Energy Transition Agnès Pannier-Runacher stressed the need to increase the stability of the international oil market, to continue close communication and to strengthen cooperation to address emerging risks and challenges.

Both sides confirmed that they would strengthen bilateral relations between the two countries. While underlining the need to ensure secure and reliable supplies of energy into global markets, they noted that the Kingdom continues to be a reliable partner and supplier of oil to France.

Discussions between the two sides included cooperation between the two countries in the field of clean hydrogen and renewable energy. French companies are actively participating in this promising sector.

In addition to cooperating within the framework of the 2011 Bilateral Cooperation Agreement in Peaceful Uses of Nuclear Energy between the Saudi and French governments, the ministers stressed the importance of encouraging both sides to work on opportunities in petrochemicals, electricity, energy efficiency, innovation, decarbonization technologies and other areas of mutual interest.

Meanwhile, Prince Abdulaziz and Greek Minister of Environment and Energy Kostas Skrekas confirmed that they would strengthen bilateral relations in the energy sector. They welcomed the establishment of a bilateral High-Level Working Group that will facilitate the implementation of an MoU the two countries signed in July 2022.

They affirmed their willingness to work together to support the stability of the international oil market, to continue close communication, and to strengthen cooperation to address emerging risks and challenges.

They also highlighted the need to ensure secure and reliable supplies of energy into global markets, noting that the Kingdom continues to be [one of] Greece’s most reliable partners and suppliers of crude oil.

Discussions between the two sides included cooperation on renewable energy and the promotion of an electricity interconnection that will export clean energy to Greece and Europe.

They also discussed the importance of clean hydrogen and the optimal way to transport clean hydrogen to Europe through Greece. They emphasized the importance of activating the engagement of the working groups from both sides. — SG