Saudi Arabia and Greece Sign Bilateral Cooperation on Energy

Saudi Arabia and Greece Sign Bilateral Cooperation on Energy

The MoU also promotes digital transformation and innovation in the fields of energy and cyber security

During the two-day official visit to Greece, Saudi Arabia’s Crown Prince Mohammed bin Salman signed with Greek Foreign Minister Nikos Dendias a number of agreements.

The agreements sets a framework for bilateral cooperation in the fields renewable energy, electrical interconnection, exporting electricity to Greece and Europe, clean hydrogen, energy efficiency, oil, gas and petrochemical industry.

A memorandum of understanding (MoU) for cooperation in the energy sector and circular economy to reduce the effects of climate change.

Under the agreements signed, joint research in the fields of energy with universities, research centers and others will be conducted.

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Meanwhile, the Saudi Telecom Company, the Greek Telecom Company and the Cyprus Telecom Company partnered to build a data cable project, called Med Data Corridor (EMC) undersea and land fiber optic data cable that will link Europe with Asia.

The project is in line with the goals of the kingdom’s vision 2030.

Greek Prime Minister Kyriakos Mitsotakis in statements welcoming the Saudi Crown Prince on Tuesday said:

"We would like to explore further opportunities between our two countries and our two economies to partner and to attract more Saudi investment into Greece".

On the same occasion Saudi Arabia’s Crown Prince Mohammed bin Salman said:

"Linking the grid of electricity, we can provide Greece and southwest Europe through Greece much cheaper renewable energy ... Also, we are working about hydrogen and how to turn Greece as a hub for Europe for hydrogen. That is a game changer for both of us".

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