RIYADH (SAUDI ARABIA) (ITALPRESS) – The Minister of the Environment and Energy Security, Gilberto Pichetto Fratin, met in Riyadh with the Minister of Energy of Saudi Arabia, Abdulaziz Bin Salman Al Saud. During the meeting, a Memorandum of Understanding (MoU) was signed between Italy and Saudi Arabia.
The Memorandum of Understanding will be valid for five years and aims to strengthen cooperation on energy transition and security, taking into account the objectives of the Paris Agreement and the 2030 Agenda. The main focuses of the Memorandum of Understanding concern renewable energy, the reduction of methane emissions, electrical interconnections, hydrogen renewable and low-emission, its renewable and low-carbon derivatives such as ammonia, and systems for capturing, storing, and using CO2.
The Memorandum of Understanding also aims to promote joint projects in third countries, involving national industrial supply chains. “Italy is consolidating its role as an energy hub and bridge between Europe and Africa, with mutually beneficial partnerships based on the strategic role of renewable energy and hydrogen, underlined Minister Pichetto Fratin. “To this end”, he added, “we are well aware of the role of Saudi Arabia in the area to promote the production of renewable and low-emission hydrogen and its derivatives such as ammonia. Also for this reason, I confirm that Italy can be an entry point for hydrogen and derivatives into the European market that is much closer, more competitive and strategic than other alternatives on the North Sea”. The minister also announced an immediate and concrete operational follow-up to the MoU with Italy’s decision to indicate a permanent representative of the Ministry of the Environment at the International Energy Forum (IEF).
“I know that it is a Forum that has his support”, Minister Pichetto Fratin highlighted to Saudi Minister Abdulaziz Bin Salman Al Saud, “and I believe that this will allow us to be even more present in Saudi Arabia, to work closely with his Ministry and with Saudi and international experts who regularly dialogue within the IEF, as well as with OPEC and IEA”. “We want to ensure”, added the Italian minister, “that our countries are increasingly closer to work together on the priority issues of ecological transition, the energy future of our countries and the development of renewable technologies”.
“I consider the Memorandum of Understanding that we are signing today – concluded Minister Pichetto Fratin – a starting point and not an arrival point. I consider it an excellent framework tool that we can use to increasingly profitably strengthen relations between our two countries and, through Italy, between Saudi Arabia and Europe”.
– Photo Ministry for Environment press office –
(ITALPRESS).
