RIYADH: Saudi Arabian think tank King Abdullah Petroleum Studies and Research Center has signed a Memorandum of Understanding with China’s Economics & Technology Research Institute to exchange information around energy, economics, and climate change.
Under the terms of the MoU, both entities will work hand in hand in order to allow for the exchange of research and the generation of actionable insights.
Some of the fields of common interest which will be prioritized topics of research include energy, economics, climate change, sustainability, transition, productivity, hydrogen, carbon capture, among others.
The MoU falls in line with KAPSARC’s mission to utilize applied research and innovation to drive and propel the global energy sector, while the Chinese organization is affiliated with oil and gas firm China National Petroleum Corporation.
“We see a lot of common interest and alignment between China’s and Saudi Arabia's position when it comes to energy and climate. We both understand and reiterate the idea of common but differentiated responsibility when it comes to climate change,” KAPSARC’s president Fahad Alajlan said in a statement.
Through joint workshops, the exchange of ideas and insights between experts, and the creation of platforms that facilitate global cooperation and knowledge exchange, both institutions will work together on deliver research.
“As important energy producers and consumers in the world, China and Saudi Arabia play an important role in maintaining the stability of the international energy market, addressing climate change, and promoting the realization of energy green transformation goals,” added CNPC ETRI’s president Yu Guo.