The Kingdom of Saudi Arabia signed a memorandum of understanding with the European Union, and this came during joint talks held in the Saudi capital, Riyadh.

The memorandum aims to cooperate in the field of energy in addition to enhancing joint efforts. In order to benefit from energy transitions and ensure its supply is in accordance with the Sustainable Development Goals.

Prince Abdulaziz bin Salman, Saudi Minister of Energy, and European Union Energy Commissioner Cardi Simpson held bilateral meetings. To discuss prospects for cooperation in the field of energy and clean technologies.

The discussions aim to strengthen bilateral relations and achieve the goals of the Paris Agreement and the outcomes of the Twenty-Eighth Conference of States Parties during the United Nations Climate Convention.

Both the Saudi side and the European side stressed their joint commitment to accelerating investment in renewable energy, in addition to enhancing cooperation in electrical interconnection and integrating renewable energy sources into electricity networks, by developing electrical infrastructure and implementing multiple solutions, such as demand management, smart grids, flexibility of industrial partnerships, and ensuring reliability. Energy markets and providing supplies at a reasonable cost.

Saudi Arabia and the European Commission concluded by signing a memorandum of understanding aimed at enhancing cooperation in the field of energy. With the aim of achieving common ambitions and accelerating joint efforts to exploit available economic opportunities. The memorandum has various aspects in the energy and clean technologies sectors, emphasizing the need for continuity of energy markets and provision of supplies at a reasonable cost, which reflects the commitment of both parties to achieving sustainable development in this field.