Riyadh Meeting Explores Algeria-Saudi Energy Sector Growth

Algerian Minister of Hydrocarbons Mohamed Arkab and Minister of Energy and Renewable Energies Mourad Adjal met with Saudi Minister of Energy, Industry, and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz Al Saud in Riyadh. The discussions, held on the sidelines of Riyadh Energy Week, focused on enhancing bilateral cooperation and exploring investment opportunities in hydrocarbons, energy, and renewable energies. The ministers underscored the deep historical relations between the two nations and their shared ambition to elevate cooperation, including in areas such as seawater desalination and related industrial services and equipment.

Specifically, both parties reviewed prospects for cooperation and investment in hydrocarbon exploration and development, with an emphasis on developing fields and strengthening Algeria's oil and gas industry. The discussions also covered consolidating cooperation in the petrochemical industry and promoting projects aimed at reducing the carbon footprint of the oil and gas sector while limiting methane emissions. Opportunities for promising joint projects involving the Sonatrach group and leading Saudi companies were also explored, alongside initiatives to promote local content within energy value chains, exchange expertise, and transfer technologies, develop training programs, and intensify cooperation in research and innovation, particularly concerning seawater desalination.

In the energy and renewable energies sector, discussions addressed cooperation opportunities in electricity, electrical equipment manufacturing, and the development of clean hydrogen and solar photovoltaic energy. The importance of reinforcing investment partnerships between Algerian and Saudi enterprises to serve the common interests of both countries was highlighted. Furthermore, the two sides discussed reactivating cooperation initiatives in electricity, new and renewable energies, and energy efficiency within the framework of the Algerian-Saudi High Council for Cooperation, noting Algeria's positive dynamic and role as vice-president of the executive bureau of the Council of Arab Ministers of Electricity. Regarding the international oil market, both ministers expressed satisfaction with positive global market developments, attributing them to ongoing efforts within OPEC and the OPEC+ alliance, and reaffirmed their full commitment to implementing agreed measures to support market stability and balance over the long term.