Tanzania's Energy Minister Dr Juma Zuberi Homera and Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman Al Saud signed a Memorandum of Understanding to strengthen energy sector cooperation. The agreement was signed during the 25th World Petroleum Congress in Riyadh.
Dr Homera said the deal would open a new chapter of energy cooperation between the countries. The agreement covers several areas, including securing petroleum product supplies through commercial agreements, developing petroleum infrastructure for transportation and storage, and examining opportunities from liquefied natural gas projects.
The partnership also includes exchanging skills in oil and gas exploration and development, and exploring opportunities to develop petrochemical industries. Both countries will cooperate on electricity and renewable energy, energy efficiency, and sharing technologies to address climate change, including clean cooking energy and carbon trading.
The memorandum provides a framework for the two nations to deepen cooperation, share technical expertise and explore investment opportunities in energy development. The agreement also covers capacity-building initiatives, knowledge exchange across the energy sector, and exploring digital transformation and energy sustainability programmes.