It serves vital areas.. The Minister of Energy signs a memorandum of understanding with his Italian counterpart

His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, met with the Minister of Environment and Energy Security of the Italian Republic, Gilberto Beccito Frattin, today in Riyadh, where prospects for cooperation in various energy fields were discussed.
At the conclusion of the meeting, the two sides signed a memorandum of understanding aimed at strengthening bilateral cooperation between the Kingdom of Saudi Arabia and the Italian Republic, in a way that serves the common interests of both parties.

Effects of climate change

The memorandum of understanding focuses on vital areas that include renewable energy transformations, electrical interconnections, energy efficiency, and geothermal energy, in addition to reducing methane emissions and enhancing solutions for energy storage, oil and gas, and traditional and transitional fuels.

The memorandum also addresses enhancing the stability and reliability of oil and natural gas markets, reducing fluctuations in them, and improving the security of energy supplies.
The memorandum also includes areas of innovation and technology such as the development of hydrogen projects, and the implementation of solutions related to reducing the effects of climate change, including the circular carbon economy, and carbon capture, use and storage.
It also focuses on enhancing digital transformation, cybersecurity, and artificial intelligence in the energy sector, while developing joint initiatives to support engineering and construction projects in the energy sector, in line with the goals of the Paris Agreement and the 2030 Sustainable Development Agenda.