The Saudi Energy Minister explains the importance of coordination between his country and “OPEC Plus”

The Saudi Energy Minister explains the importance of coordination between his country and “OPEC Plus”
The Saudi Energy Minister explains the importance of coordination between his country and “OPEC Plus”

Dubai, United Arab Emirates (CNN) – Saudi Energy Minister Prince Abdulaziz bin Salman said, Thursday, that his country’s cooperation with Arab countries in the fields of energy is “an integral part of its interest in its Arab depth.”

And the Saudi Minister of Energy added, in a statement to the Saudi Press Agency (SPA), that “this cooperation is embodied in coordination for joint Arab action, and in numerous projects, programs and initiatives.”

He pointed out that at the international level, there is coordination between Saudi Arabia with “OPEC Plus” countries, including a number of Arab countries, and he considered this “the cornerstone of efforts to enhance the stability of global oil markets and maintain their balance and security of supplies in a way that supports the growth opportunities of the global economy.” .

He explained that his country had signed a number of memorandums of understanding with a number of Arab countries in the energy sector, such as those signed with Egypt, the Sultanate of Oman, Jordan and Iraq, aimed at enhancing cooperation in the fields of electricity, renewable energy, clean hydrogen, oil and gas, petrochemicals, and other fields. Energy related fields.

He mentioned that there are also electrical interconnection projects between Saudi Arabia and the Arab countries, where the Kingdom is connected to all the Arab Gulf states through the Gulf interconnection, and direct interconnection projects are being implemented between the Kingdom and Iraq, Jordan and Egypt.

He pointed out that these projects “aimed at enhancing the security of interconnected national networks, their reliability, increasing their ability to absorb the entry of renewable energy projects, creating a regional commercial market for the exchange and passing of electric energy, in order to achieve optimal investment and operation of national power plants, exporting renewable energy, and linking the networks of the Arab Mashreq with their counterparts in the Maghreb.” ..

The Saudi Minister of Energy said that coordination and cooperation with Arab countries “is witnessing continuous communication, whether through coordination councils or joint committees in various fields of energy and related issues, such as exchanging experiences in the fields of electricity, renewable energy, energy production and consumption efficiency, and digital transformation in energy uses and applications.” In addition to programs and plans to combat climate change, which include applying the circular carbon economy approach, emission reduction technologies, and others.

He expressed his hope that the Arab summit held in Jeddah would be “a new opportunity to achieve a greater and more effective start for cooperation, integration and coordination among Arab countries in all fields.”