Widescale Saudi energy deal slated
The Philippines and the Kingdom of Saudi Arabia are set to finalize a comprehensive roadmap within three months, aiming to boost collaboration on petroleum derivatives, hydrogen exploration, sustainable aviation fuel and digital technology for managing electrical systems.
Once fully implemented, the partnership could help reduce energy costs, enhance reliability and advance cleaner energy options.
The Department of Energy (DoE) announced on Wednesday that it will hold a series of bilateral meetings with Saudi Arabia as part of a Memorandum of Understanding (MoU) signed by Energy Secretary Raphael P.M. Lotilla and Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud.
Indigenous hydrogen piques interest
“I welcome the joint efforts by both countries to implement the provisions of the MoU. Prince Abdulaziz and his team expressed interest in our native or naturally occurring hydrogen resources,” Lotilla said.
“Given Saudi Arabia’s extensive expertise in the exploration and development of upstream sectors, this cooperation holds promising benefits for both countries,” he added.
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