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In a significant move towards bolstering bilateral ties in the energy sector, HRH Prince Abdulaziz Bin Salman, the Kingdom’s Minister of Energy, convened with H.E. Mr. Jurabek Mirzamahmudov, Minister of Energy of the Republic of Uzbekistan. The meeting culminated in a joint statement affirming the commitment of both nations to fortify their energy collaboration.
The two governments acknowledged the pivotal role of energy in their enduring bilateral partnership and emphasized the necessity of stabilizing global energy markets. Uzbekistan lauded Saudi Arabia’s efforts in maintaining stability in the global oil market, recognizing its contributions to fostering sustainable economic growth for both producers and consumers.
A significant milestone was achieved as the ministers inked an Energy Cooperation Roadmap. This roadmap, aimed at operationalizing the areas of collaboration delineated in the Cooperation Agreement signed in 2022, underscores the shared commitment to advancing energy cooperation between the two nations.
Continuing their robust collaboration in electricity and renewable energy, both countries pledged to exchange expertise, support ongoing Saudi initiatives in Uzbekistan, and explore new investment prospects. Notably, Saudi Arabia has emerged as the largest investor in Uzbekistan’s power sector, reflecting the Kingdom’s commitment to fostering green energy transitions globally.
Looking ahead, Saudi Arabia and Uzbekistan are poised to deepen cooperation in various energy sectors, including oil, refined products, petrochemicals, and agricultural nutrients. The focus remains on enhancing reliability and sustainability while facilitating the exchange of technical expertise.
The collaborative efforts extend to developing resilient and sustainable supply chains for the energy sector, encompassing oil and gas, power generation, renewable energy, clean hydrogen, and carbon capture technologies. This strategic partnership offers promising avenues for local companies to explore export opportunities and engage in joint projects for securing critical energy sector components.
Additionally, the two nations are set to share expertise in the Circular Carbon Economy framework and Carbon Capture, Utilization, and Storage (CCUS). Moreover, they aim to collaborate on green and clean hydrogen value chains, spanning generation, transportation, storage, and technology development.
In a bid to enhance human capital development, particular emphasis will be placed on training technical specialists, engineers, and fostering research and development initiatives. The concerted efforts underscore the shared commitment to advancing sustainable energy solutions and fostering mutual prosperity. |
