Saudi Arabia, India formalize energy sharing, hydrogen production agreement in Riyadh

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Saudi Arabia and India’s energy ministers signed an MoU on electrical interconnections, and hydrogen and clean energy supply chains on the sidelines of the MENA Climate Week in Riyadh on Sunday.

The energy sharing and supply chain agreement was signed by the Saudi Energy Minister Prince Abdulaziz bin Salman and India’s Minister of Power and Renewable Energy Raj Kumar Singh.

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It follows a series of joint agreements signed between Saudi Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi last month.

The two countries will also work together on developing projects in the hydrogen and clean energy sector, including their production.

An interconnection of the electricity grid would aid in sharing energy both ways during peak periods and emergency situations.

Also, by inter-linking energy networks, the requirement for each country to build storage and source energy lowers significantly, a cost-cut that carries forward to the consumer.

Regular business summits and business to business interactions between the two countries will be conducted to establish complete supply and value chains in their respective energy sectors.

The two ministers, shortly before signing the MoU, spoke at a panel on advancing energy transition in the Middle East and North Africa region.

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