Saudi Gazette report

RIYADH — Saudi Arabia and Kazakhstan signed on Monday a memorandum of understanding in the field of energy.

Minister of Energy Prince Abdulaziz bin Salman held a meeting in Riyadh with Minister of Energy of Kazakhstan Almasadam Satkaliyev to discuss ways of cooperation between the two countries in the fields of energy, in addition to discussing developments in the global energy market.

The agreement includes encouraging cooperation in the fields of petroleum and its derivatives, gas and its derivatives, refining, petrochemicals, electricity, renewable energy, clean hydrogen, energy efficiency, storage, and development. The agreement also covers cooperation in the field of circular carbon economy and its technologies aimed at reducing the effects of climate change.

The memorandum also includes the development of qualitative partnerships between them to localize materials, products and services related to all energy sectors, supply chains and technologies, cooperation in developing innovative uses of hydrocarbons in various sectors, and cooperation in energy fields related to digital transformation, innovation, cyber security and artificial intelligence.