Saudi Arabia signs energy pacts with Qatar and Egypt

Saudi Arabia has signed separate energy cooperation memorandums with Qatar and Egypt during the 17th International Energy Forum Ministerial Meeting in Riyadh.

The agreement with Qatar establishes a framework for collaboration across the entire energy value chain. This includes upstream and downstream cooperation in oil, natural gas, and petrochemicals, as well as electricity infrastructure. The memorandum also emphasizes the energy transition, covering clean hydrogen, renewable energy, energy efficiency, and storage technologies. Additionally, the two nations will cooperate on climate change mitigation through carbon capture, transport, and storage solutions.

The pact with Egypt focuses on expanding petroleum trade, strengthening supply security, and developing joint petrochemical investments. The cooperation covers the trading, transporting, storing, and distributing of hydrocarbons, alongside the development of logistics facilities and fuel stations. By combining Saudi hydrocarbon resources and investment capacity with Egypt’s refining facilities and industrial workforce, the agreement aims to reduce import dependence and increase high-value exports in sectors such as polymers, fertilizers, and industrial chemicals.