Saudi Arabia, Russia ink MoU for energy cooperation

Saudi Arabia’s energy minister Khalid Al-Falih on Wednesday signed a memorandum of understanding (MoU) for cooperation in the energy sector with his Russian counterpart Alexander Novak, the official Saudi Press Agency (SPA) reported.

Under the preliminary deal, both countries aim to upgrade their electricity system, and enhance technical cooperation in clean energy projects.

The MoU aims to enhance the economic, commercial and technical cooperation on target project studies. It also seeks to organize international workshops and training courses in energy field.

It will boost mutual investments in energy, renewable energy, solar and wind power projects between the two countries.