Saudi Arabia and Japan Collaborate to Ensure Stability in Global Oil Markets and Energy Supply
Saudi Arabia and Japan are working together to ensure stable oil markets and an uninterrupted global energy supply. Saudi Energy Minister Prince Abdulaziz bin Salman and Japan's Minister of Economy, Trade and Industry Ken Saito emphasized this during the 2nd KSA-Japan Energy Dialogue in Riyadh. They highlighted the strong oil supply relationship Saudi Arabia has with Japan and discussed enhancing their partnership to support the move towards net-zero carbon emissions, including through the Lighthouse initiative, which aims to foster clean energy cooperation.
They also considered national strategies to achieve net-zero, emphasizing the balance between energy security and economic growth. The energy dialogue comes after the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation was launched in Jeddah in July. Progress in areas such as hydrogen and ammonia, e-fuels, carbon recycling, critical minerals, and supply chain resilience was discussed, along with sustainable materials and collaborations in research.
