Saudi Arabia, Thailand Sign Agreement for Clean Energy Cooperation

•  Thailand’s state-owned energy firm PTT Plc and the Electricity Generating Authority of #Thailand (Egat), Sign Agreement for #CleanEnergy Cooperation with Acwa Power Co of Saudi Arabia.

Bangkok: On the sidelines of APEC 2022 Summit in Thailand, Thailand and Saudi Arabia have signed a number of agreements to cooperate in sectors including energy and tourism as the two countries gradually restore full diplomatic ties.

The two countries on Friday signed an energy cooperation agreement, a memorandum of understanding to establish a Saudi-Thai Cooperation Council and another to promote tourism.

They will also explore ways to promote more direct investments, a Thai government spokesman said.

The energy pact will cover petroleum, hydrogen, carbon capture and storage, renewable and low-carbon technology, the Energy Ministry said on Saturday.

The agreement consists of two memoranda of understanding (MoU): the first of which covers a green hydrogen/ammonia project in Thailand. It will be carried out by the majority state-owned energy firm PTT Plc and the Electricity Generating Authority of Thailand (Egat), along with Acwa Power Co of Saudi Arabia.

The second MoU between the Ministry of Investment of Saudi Arabia and Egat Group covers various types of clean energy and energy transition.

The agreements cap another step forward in relations between the two countries, with Saudi Crown Prince Mohammad bin Salman visiting Thailand as a special guest at the Asia-Pacific Economic Cooperation Summit.

Saudi Crown Prince Mohammad bin Salman met with Prime Minister Prayut Chan-o-cha on Friday and discussed ways to further improve bilateral ties, according to a Thai government spokesman.

Saudi Crown Prince Mohammed bin Salman meets with Thailand Prime Minister Prayut Chan-o-cha at APEC SUMMIT 2022

APEC 2022 was held at Bangkok’s Queen Sirikit National Convention Centre and wrapped up on Saturday.

APEC’s official mission is to promote regional economic integration.

APEC consists of 21 countries. Among them there are the 12 founding states (Australia, Brunei, Indonesia, Canada, Malaysia, New Zealand, Singapore, the United States, Thailand, the Philippines, South Korea and Japan), as well as China (joined in 1991), Mexico and Papua New Guinea (1993), Chile (1994), and Russia, Vietnam and Peru (1998). In 1991, two Chinese territories also joined APEC – Xianggang (Hong Kong) and Taiwan.

#APEC2022THAILAND, #Cooperation, #Thailand, #APEC, #Bangkok

By: M.A.