Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, and his French counterpart, Agnes Pannier-Runacher, met in Riyadh on July 8 to strengthen energy cooperation. They signed a Memorandum of Understanding (MoU) with a focus on clean energy from renewable sources.
The MoU outlines a three-pillar energy cooperation roadmap between France and Saudi Arabia. These pillars include technology development, with a focus on clean hydrogen production and renewable electricity generation, as well as business cooperation to unlock opportunities in the energy supply chain and hydrogen trade. The roadmap also emphasizes the importance of policies and regulations that promote the development of the hydrogen industry, including the mutual recognition of certification frameworks and consistent emission life cycle assessments.
Overall, the energy cooperation framework aims to advance the production of hydrogen and electricity using renewable sources, while promoting collaboration between Saudi and French companies and ensuring consistency in international trade.