Energy Saudi Arabia and Japan seek cooperation in clean energy By Pramod Kumar December 26, 2022, 5:34 AM SPA The two ministers discussed the potential collaboration in petrochemicals, renewable energy, etc. Saudi Arabia and Japan have signed a memorandum of cooperation surrounding the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, state-run SPA news agency reported. The MoC was signed by Saudi energy minister Prince Abdulaziz bin Salman and Japanese industry minister Yasutoshi Nishimura, who also discussed potential collaboration in petrochemicals. Saudi Arabia recently announced plans to expand its petrochemical industry through liquid-to-chemical conversion. The two ministers sought further cooperation in electricity, renewable energy, energy efficiency and innovation. Earlier this week, Japan Organization for Metals and Energy Security (JOGMEC) renewed a deal with Saudi Aramco for crude oil storage on the island of Okinawa for another three years. Under the agreement, JOGMEC leases 13 national crude oil stockpiling tanks on the island southwest of mainland Japan to Aramco, enabling Saudi Arabia’s state oil producer to store about 1.3 million kilolitres of crude oil for the next three years. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
