Saudi Arabia, Japan sign MoC in fields of carbon economy, recycling, others

Saudi Arabia and Japan signed a memorandum of cooperation (MoC) on Sunday in the fields of the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, the Saudi Energy Ministry said on Twitter.

The MoC was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and Japanese Industry Minister Yasutoshi Nishimura, who is visiting the Kingdom.

The signature came after a meeting in which they both stressed the importance of supporting the stability of global oil markets through encouraging dialogue and cooperation between producers and consumers, the official Saudi Press Agency (SPA) reported.

The two ministers also highlighted the need to ensure safe supplies from all energy sources to global markets and noted that the Kingdom is “the largest dependable source” of crude oil supplies to Japan and “a reliable partner in this aspect” as well, SPA said.