- Saudi Arabia and France have agreed to strengthen their energy cooperation, acknowledging that energy is one of the main pillars of their mutual long-term partnership.
- Moreover, they recognized clean hydrogen as an essential fuel to reach the shared objective of promoting sustainable economic development while mitigating the impact of climate change.
Saudi Arabia and France have agreed to strengthen their cooperation in the field of energy, acknowledging that energy is one of the main pillars of their mutual long-term partnership. On February 2, 2023, the two nations reaffirmed their agreements by signing a Memorandum of Understanding (MoU). Both countries agreed that it was critical to move forward with the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement’s implementation by their outlined principles, objectives, and goals, including continuing efforts to keep global warming to 1.5°C.
Furthermore, in a joint media statement, the countries noted that their shared strategic priorities are addressing climate change and promoting secure, reliable, affordable, and sustainable energy supplies. Moreover, they recognized clean hydrogen as an essential fuel to reach the shared objective of promoting sustainable economic development while mitigating the impact of climate change.
Additionally, they agreed to enhance cooperation in the field of electricity and exchange experiences in the field of electricity generation from renewable energy resources and grid interconnection projects, as well as encouraging the participation of private sectors in power sector projects, including generation, transmission, distribution, storage and network automation technologies. Saudi Arabia and France also agreed to engage in joint efforts to enhance energy efficiency and their cooperation in nuclear energy in a peaceful and safe framework, the management of radioactive waste and nuclear applications, and the development of human capabilities.
They agreed to cooperate on advancing climate technologies and solutions, including carbon capture utilization and storage (CCUS) for hard-to-abate sectors such as cement, aviation, marine and petrochemicals. Saudi Arabia said it aims to become the leading exporter of hydrogen and electricity produced from low-emission resources globally as it has the necessary resources of renewable energy, natural gas and carbon sinks. At the same time, France stated that its strategy for developing decarbonised hydrogen aims to contribute to the decarbonization of industry and transport significantly.
Both countries stated they would work to enhance their cooperation in developing and sustaining supply chains for the energy sectors and to enable collaboration between companies to maximize the utilization of local resources in both countries, which contributes to achieving flexibility and effectiveness of energy supplies.