India and Saudi Arabia sign Agreement on Cooperation in Energy Sector

Daily Current Affairs / India and Saudi Arabia sign Agreement on Cooperation in Energy Sector

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Category : International Published on: September 15 2023

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India and Saudi Arabia have signed a Memorandum of Understanding (MoU) on cooperation in the field of energy.
The MoU is expected to result in enhanced ties between India and Saudi Arabia in renewable energy, energy efficiency, hydrogen, electricity and grid interconnections, petroleum, natural gas, strategic petroleum reserves, and energy security.
It also seeks to encourage bilateral investment in the fields of renewable energy, electricity, hydrogen and storage and oil & gas, as well as create an enabling environment for circular economy and technologies to reduce the effects of climate change through carbon capture, utilization, and storage.