In Saudi Arabia’s capital, the energy sectors of the Kingdom and Japan convened for the second edition of their collaborative energy dialogue. High-profile attendees included Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman bin Abdulaziz, and Japan’s Minister of Economy, Trade and Industry, Ken Saito.
The meeting was a sequel to the strategic KSA-Japan Lighthouse Initiative for Clean Energy Cooperation, a significant outcome of the discussions between Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, and the Prime Minister of Japan, Kishido Fumio, earlier in the year.
During this dialogue, the officials assessed the advancements of the Lighthouse Initiative. The initiative spans several critical sectors such as the development of hydrogen and ammonia, e-fuels, the Circular Carbon Economy and Carbon Recycling, the procurement of essential minerals for the energy industry, fortification of supply chain resilience, sustainable advanced materials, plus fostering research and knowledge sharing.
Furthermore, both ministers underscored the imperative of maintaining stable global oil markets and a secure energy supply. They recognized the long-established partnership between their countries, with Saudi Arabia being a key oil provider to Japan. They also agreed on the importance of dialogue between oil-producing and consuming nations.
The dialogue concluded with a mutual commitment to deepen the bilateral relationship, particularly in supporting global progression towards net-zero emissions. Both nations confirmed their dedication to exploring various approaches to achieve net-zero goals while balancing energy security and economic development.