Saudi Arabia and Japan have signed new agreements on energy cooperation, extending the partnership of two strong economies as they continue to focus on the sector.
The agreements mainly focus on the areas of the circular carbon economy and carbon recycling, as well as green hydrogen, fuel ammonia and derivatives.
The agreements were signed by Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy, and Nishimura Yasutoshi, Japan’s Minister of Economy, Trade and Industry, during the first ministerial meeting of the Japan-Saudi Energy Ministerial Dialogue in Riyadh.
The two countries highlighted the need to ensure secure supplies of all energy sources in global markets, noting that the kingdom continues to be Japan’s largest source of reliable crude oil supplies and its reliable and trusted partner.
Saudi Arabia counts Japan, the world’s third-largest economy, as a key partner as it boosts its focus on the East. Aramco accounts for about 40% of Japan’s total crude oil imports, the company’s website said.
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