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Minister of Energy Signs MoU with Italian Minister of Environment and Energy Security

14/01/2025 Global events

Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz met today in Riyadh with Italian Minister of Environment and Energy Security Gilberto Pichetto Fratin to explore avenues for cooperation across various energy sectors.

The two sides signed a memorandum of understanding (MoU) to strengthen collaboration between Saudi Arabia and Italy, advancing their shared interests.

 The MoU focuses on key areas including energy transitions and security, renewable energy, electricity interconnection, energy efficiency, geothermal energy, methane emissions reduction, energy storage solutions, as well as oil, gas, and conventional and transitional fuels.

 It also addresses enhancing the stability and reliability of oil and gas markets, reducing market volatility, and improving energy supply security and supply chains.

The agreement highlights areas of innovation and technology, such as hydrogen project development, and climate change mitigation technologies including the circular carbon economy and carbon capture, utilization, and storage (CCUS). It also focuses on advancing digital transformation, cybersecurity, and artificial intelligence, while fostering joint initiatives to support engineering and construction projects in the energy sector, in line with the Paris Agreement and the 2030 Agenda for Sustainable Development.