RIYADH: Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman met with his Indonesian counterpart Arifin Tasrif, where they stressed the importance of bilateral relations in all fields, noting that the Kingdom is a reliable partner and a major exporter of crude oil and refined petroleum products supplies to Indonesia.
The two ministers also stressed the importance of strengthening relations between the two countries in the energy sector, including joint work to develop investment opportunities in refining, petrochemicals, electricity, and renewable energy, the Saudi Press Agency reported on Thursday.
They also discussed efforts to raise the efficiency of energy production and consumption, and raise awareness and knowledge of the circular carbon economy approach, its technologies and applications.
Prince Abdulaziz also held a meeting with Portuguese Minister of Environment and Climate Action Duarte Cordero, during which they stressed the importance of supporting the stability of global oil markets by encouraging dialogue and cooperation between producing and consuming countries, and the need to ensure the security of energy supplies.
They affirmed their keenness to enhance bilateral cooperation by announcing they would sign a memorandum of understanding in the field of energy in the near future.
During the meeting, which was held remotely, “the two parties indicated that the Kingdom is a reliable partner and one of the countries exporting crude oil to Portugal, stressing the importance of cooperation in many energy fields, such as clean hydrogen and renewable energy, including the integration of electricity produced from renewable energy into grids, the security and reliability of electrical systems, and their international trade and interconnectivity,” SPA reported. The two ministers said energy transition is important in addressing energy and climate challenges, which will be discussed more broadly at the UN Climate Change Conference (COP27) in the Egyptian resort city of Sharm El-Sheikh.