Minister of Energy Prince Abdulaziz bin Salman highlighted the need to ensure the security of the energy supply. He said this during a virtual meeting with Portuguese Minister for Environment and Climate Action 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. 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 meeting, it was noted that 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 as clean hydrogen, renewable energy, 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 addressing 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.