KSA: Top energy officials from Saudi Arabia and Japan engaged in discussions aimed at increasing collaboration in the energy sector and ensuring a stable global supply on Sunday in Riyadh. Led by Japan’s Economy, Trade, and Industry Minister Ken Saito and Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, the talks marked the second Japan-Saudi energy dialogue.
The agenda included a comprehensive review of the progress made under the Saudi-Japan Lighthouse Initiative for Clean Energy Cooperation; a groundbreaking initiative announced in July.
Notably, both ministers highlighted the significance of maintaining stable global oil markets, highlighting the essential role that Saudi Arabia plays as Japan’s largest oil supplier. The talks included areas such as the utilization of hydrogen and ammonia, carbon recycling, critical minerals essential for the energy sector, and enhancing supply chain resilience.
Transitioning from the broader energy landscape, the ministers also reached an agreement to advance global efforts toward net zero, emphasizing the shared commitment to addressing energy security and fostering economic growth.
Furthermore, concrete steps were taken as Minister Saito and Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar AlKhorayef, inked a memorandum of cooperation in the field of mining and mineral resources.
This collaborative momentum comes in the wake of Minister AlKhorayef’s recent three-day visit to Tokyo, during which he explicitly invited Japanese investors to capitalize on the Kingdom’s strategically developed investment opportunities aligned with its industrial and mining strategy. The recent talks between Saudi Arabia and Japan not only reaffirm the robust energy partnership between the two nations but also pave the way for diversified collaboration in critical sectors such as clean energy, minerals, and mining. This strategic alliance ensures stability in global oil markets and positions both nations at the forefront of the transition to a sustainable and resilient energy future.