“Italy and Saudi Arabia signed an agreement on energy cooperation Italy signed a five-year memorandum on energy cooperation with Saudi Arabia. The agreement envisages the possibility of supplying Saudi hydrogen to Europe via Italy as a transit hub.”, — write on: unn.ua
Details
The minister informed that the memorandum of understanding, which will be valid for five years, was signed by him and his Saudi counterpart Prince Abdul-Aziz bin Salman Al Saud during a meeting in Riyadh.
The agreement focuses on renewable energy, methane reduction, energy interconnections, renewable and low-emission hydrogen and ammonia, and carbon capture and storage systems.
The head of the Italian Ministry of Energy suggested that Italy could become an “entry point” to Europe for renewable hydrogen and ammonia produced in Saudi Arabia. According to him, it would be “a much closer, more competitive and strategic solution than other alternatives in the North Sea”.
We will remind
Last November, Riyadh abandoned an ambitious defense treaty with the US in exchange for normalizing relations with Israel. Instead, Saudi Arabia is pushing for a more modest military cooperation agreement.