The 2nd KSA-Japan Energy Dialogue was held in Riyadh on December 24, with the attendance of Energy Minister of the Kingdom of Saudi Arabia Prince Abdulaziz bin Salman bin Abdulaziz and Minister of Economy, Trade and Industry of Japan Ken Saito.
This dialogue follows the establishment of the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation which was announced during the bi-lateral meeting between His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Council of Ministers of the Kingdom of Saudi Arabia, and His Excellency Kishido Fumio, Prime Minister of Japan, on July 16th in Jeddah.
In the dialogue, the Ministers reviewed the progress of the Lighthouse Initiative which covered key areas such as hydrogen and ammonia, e-fuels, Circular Carbon Economy/Carbon Recycling, critical minerals required for the energy sector and supply chain resilience, sustainable advanced materials, and research and knowledge exchange.
Moreover, both Ministers emphasized the need to support stable global oil markets and secure stable global energy supply by promoting dialogue between oil producers and consumers, in the knowledge that Saudi Arabia has been the largest oil supplier and a trusted partner of Japan.
Both Ministers also agreed to further expand bilateral relationship, in advancing global efforts toward net-zero and cooperation under the Lighthouse initiative. Both sides also shared the view of the importance of taking various pathways in line with national circumstances toward net-zero and simultaneously addressing energy security and economic growth.
By Nadeem Faisal Baiga