The Minister of Energy of the Kingdom of Saudi Arabia, His Royal Highness Prince Abdulaziz Bin Salman, held a virtual meeting with the Minister for Environment and Climate Action of the Portuguese Republic, His Excellency Duarte Cordeiro.
The two Ministers emphasized the importance of supporting the stability of global energy markets by encouraging dialogue and collaboration between producing and consuming countries and highlighted the need to ensure the security of energy supply.
Both sides have confirmed the desire to strengthen the cooperation between the two countries by signing a Memorandum of Understanding in the field of energy in the near future.
During the call, it was noted that the Kingdom of Saudi Arabia is one of Portugal’s crude oil suppliers and a trusted partner, both Ministers stressed the importance of cooperating in many energy related fields such clean hydrogen, renewable energy (and integrating electricity from renewables in the grid), power trade and international interconnection and power system reliability and security.
The Ministers considered that energy transition is key to address both the energy and climate challenges, a topic that will be further explored during the United Nations Climate Change Conference (COP27), in Sharm El-Sheikh, Egypt.
