To support the energy sector.. Agreements between France and Saudi Arabia

Saudi Energy Minister Prince Abdulaziz bin Salman and his French counterpart Agnes Bannier- Ronacher signed a memorandum of understanding for cooperation in the field of energy.

The focus of the memorandum of understanding is on clean energy from renewable resources, as France and Saudi Arabia agreed to cooperate in the field of hydrogen and electricity produced from a roadmap for renewable resources that focuses on three pillars:

1- Technology development

The cooperation will promote hydrogen and electricity produced by deploying renewable technology from production, transportation and conversion in demand centers.

2- Commercial cooperation

The Saudi-French Cooperation welcomes joint efforts between Saudi and French companies to partner in the entire energy supply chain to unlock hydrogen business and trade.

3- Policies and regulation

 The roadmap will further promote the development of the hydrogen industry through a mutual recognition of certification framework including emission life cycle assessment from all possible sources necessary for consistency in international trade.

The two countries will work to enhance their cooperation in developing and sustaining supply chains for the energy sectors, and to enable cooperation between companies to maximize the utilization of local resources in both countries, which contributes to achieving flexibility and efficiency in energy supplies.

A French-Saudi task force

The MOU also calls for the creation of a "Franco-Saudi task force" to implement the cooperation arrangements.

Both countries recognize the importance of advancing the implementation of the United Nations Framework on Climate Change (UNFCCC) and the Paris Agreement in accordance with the principles, goals and targets set forth therein, including pursuing efforts to limit temperature rise to 1.5°C.

Cooperation addressing climate change and promoting safe, reliable, affordable and sustainable energy supplies are common strategic priorities for Saudi Arabia and France.

Moreover, the two countries recognize that clean hydrogen is an essential fuel to rea

ch the common goal of promoting sustainable economic development while mitigating the impact of climate change.

Energy agreements

The two countries agreed to enhance cooperation in all aspects of energy production, including generation from renewable energy sources, and networking projects, as well as encourage private sector participation in energy sector projects.

Engage in joint efforts to enhance energy efficiency, promote cooperation in the field of nuclear energy in a peaceful and safe framework, manage radioactive waste and nuclear applications, and develop human capabilities.

Developing climate technologies and solutions, including carbon utilization and storage, for sectors that are difficult to mitigate such as cement, aviation, marine, petrochemicals, and others.