The Philippines seeks to collaborate with the Kingdom of Saudi Arabia (KSA), a global leader in the energy sector, on developing carbon capture, utilization and storage, and hydrogen technologies — a much-needed boost to the country’s energy capabilities as it transitions to cleaner energy sources.
The Department of Energy (DoE) said on Monday that the potential partnership could involve joint research and development projects, policy exchanges, and capacity building in emerging power technologies.
The initiative was part of a memorandum of understanding (MoU) recently signed between the DoE and Saudi Arabia’s Ministry of Energy, led by His Royal Highness Abdulaziz bin Salman Al Saud.
State firms show interest.
Energy Secretary Raphael P.M. Lotilla, in a statement, highlighted the importance of this agreement, linking it to President Ferdinand Marcos Jr.’s visit to Saudi Arabia in October last year, during which Saudi state-owned companies expressed interest in investing in the Philippine energy sector, Lotilla said, referring to an initial MoU initiated during his previous term as energy secretary in 2005.
The Secretary also noted that this partnership goes beyond addressing current energy demands.
He noted the role of both countries in supporting global efforts to transition to cleaner, more sustainable energy sources through the development and deployment of low-carbon technologies.