Saudi Arabia and Uzbekistan Forge Energy Partnership, Releases Joint Statement

Saudi Arabia's Minister of Energy, Prince Abdulaziz Bin Salman, held a bilateral meeting with Jurabek Mirzamahmudov, Minister of Energy of the Republic of Uzbekistan. 

Following their discussions, the two ministers issued a joint statement outlining the shared commitment of their governments to deepen energy cooperation.

The joint statement emphasizes the key role of energy in fostering the long-term bilateral partnership between the Kingdom of Saudi Arabia and the Republic of Uzbekistan. Both nations stressed the importance of stabilizing global energy markets, with Uzbekistan acknowledging Saudi Arabia's efforts in supporting market stability, which benefits both producers and consumers, fostering sustainable economic growth.

During the meeting, the ministers signed an Energy Cooperation Roadmap, aiming to operationalize the areas of collaboration delineated in the Cooperation Agreement signed in Jeddah on August 17, 2022, during the visit of Shavkat Mirziyoyev, President of the Republic of Uzbekistan to the Kingdom.

Key areas of cooperation include electricity and renewable energy, with a focus on knowledge exchange, support for Saudi companies' activities in Uzbekistan, and exploration of investment opportunities in both countries. 

The Kingdom's substantial investments in Uzbekistan's power sector since 2020 reflect its commitment to supporting Uzbekistan's transition to green energy, making it the largest investor in Uzbekistan's power sector.

Moreover, both parties aim to enhance cooperation in oil, refined products, petrochemicals, and agricultural nutrients, leveraging the Kingdom's reliability and sustainability in these sectors. Collaboration in developing a resilient and sustainable supply chain for the energy sector, encompassing oil and gas, power generation, renewable energy, clean hydrogen, and carbon capture technologies, is also on the agenda. This collaboration offers future export opportunities and joint projects while securing critical metals and minerals for the energy transition.

The joint statement further highlights mutual efforts to advance the Circular Carbon Economy framework and Carbon Capture, Utilization, and Storage technologies, as well as opportunities in the green and clean hydrogen value chain.

In addition to these initiatives, both countries pledge to strengthen cooperation in human capital development, focusing on training technical specialists, engineers, research and development, and education, further cementing the enduring partnership between Saudi Arabia and Uzbekistan in the energy sector.