RIYADH: Saudi Arabia and Kazakhstan have agreed on a deal to establish a framework for cooperation in the energy sector, further advancing the Kingdom’s energy partnerships.
Under the deal, the countries will work on collaborating in the fields of petroleum, gas, refining, petrochemicals and electricity, the Saudi Press Agency reported.
Both nations will also join together to advance renewable energy, clean hydrogen, energy efficiency, storage and development.
The deal also seeks to increase cooperation to promote the concept of a circular carbon economy to help reduce emissions.
The move is aligned with the Kingdom’s Saudi Green Initiative, bolstering Saudi Arabia’s reliance on clean energy, offsetting emissions and protecting the environment.
The agreement was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and his Kazakhstani counterpart Almasadam Satkaliyev at a meeting in Riyadh.
The two countries also agreed to localize materials, products and services related to energy sectors, including supply chains and technologies.
The agreement also included collaboration on finding hydrocarbon uses in various industries and energy-related issues related to digital transformation, innovation, cybersecurity and artificial intelligence.
Last May, the Kingdom’s energy minister said Saudi Arabia’s interest in energy cooperation with Arab countries is an integral part of its policy to strengthen relations in all fields.
He said Saudi Arabia had signed several memorandums of understanding in the sector, including with Egypt, Oman, Jordan and Iraq.
The minister added that the MoUs aimed to enhance cooperation in electricity, renewable power, clean hydrogen, petroleum and gas, petrochemicals and other fields.
As part of its strategy to explore new markets and expand in Central Asia, the Kingdom signed an agreement with Azerbaijan last month.
The agreement intended that both nations cooperate in various fields, including petroleum, petrochemicals, gas, electricity and renewables.
Furthermore, Saudi Arabia partnered with France in February to bolster collaboration in the energy sector, particularly in technologies tackling climate change, such as carbon capture and hydrogen production.
This was to increase closer working in electricity, renewables and energy efficiency, reported the SPA at the time.
The deal, signed in Riyadh, also covered storage, smart grids, oil and gas and their derivatives, refining, petrochemicals, and the distribution and marketing sector.