The Department of Energy (DOE) said that it will sign a memorandum of understanding (MOU) with the Ministry of Energy of Saudi Arabia to strengthen international energy partnerships and promote a diversified and sustainable energy system.
Energy Secretary Raphael P.M. Lotilla stated that the MOU, which will be signed during a two-day energy mission from Oct. 14 to 15, follows President Ferdinand Marcos Jr.'s visit to Saudi Arabia last year.
Lotill said the agreement aims to foster cooperation in key areas such as clean energy, natural gas, and other relevant technologies to mitigate climate change.
"The partnerships with Saudi Arabia extend beyond addressing the current energy needs," Lotilla said in a statement on Monday.
The DOE emphasized that the partnership with Saudi Arabia extends beyond addressing current energy needs.
The two countries are expected to cooperate in the development and deployment of low-carbon technologies, including joint research and development projects, policy exchange, and capacity building in areas like carbon capture, utilization, and storage (CCUS), and hydrogen.
Last year, President Marcos attended the first Association of Southeast Asian Nations-Gulf Cooperation Council Summit in Saudi Arabia.
During that time, Marcos explained that alliances are needed in energy, food security, logistics, supply chains, digital transformation, and the free flow of goods, people, and services.