Japan and Saudi Arabia Ink Agreement to Cooperate on Renewable Energy

Japan and Saudi Arabia have signed a memorandum of cooperation in the energy sector, covering carbon recycling technology and the use of hydrogen and ammonia as a clean fuel source, to achieve a carbon-neutral society, according to a Mainichi Shimbun report.

Japanese Economy, Trade and Industry Minister Yasutoshi Nishimura and Saudi Energy Minister Prince Abdulaziz bin Salman agreed in their talks in Riyadh to cooperate in cutting emissions through the promotion of the circular carbon economy and other relevant technologies.

As Russia's invasion of Ukraine has disrupted energy supplies around the world, the two ministers also reaffirmed the importance of securing stable provisions by advancing the dialogue between oil producers and importers.

Despite being the major oil producer in the Middle East, Saudi Arabia wants to reduce its dependence on oil exports and strive to build a diversified, private-sector-driven economy.

The Kingdom’s memorandum of cooperation with Japan fits into the country’s Vision 2030 economic reform blueprint, which includes investing in technologies to revolutionize the way the Saudi oil sector operates.

To meet the Vision’s commitment to 50% renewables in the energy mix by 2030, Saudi Arabia is working to reduce the carbon intensity, methane emissions and flaring of its fossil fuel operations.

#decarbonisation #renewableenergy