BAKU, Azerbaijan, July 19. Saudi Arabia and Türkiye have signed a memorandum of understanding on cooperation in the energy sector, Trend reports.
The document was inked during the visit of President Recep Tayyip Erdogan to Saudi Arabia.
The agreement implies the expansion of cooperation in the oil and gas sector.
The memorandum was signed by the Minister of Energy of Saudi Arabia Abdel Aziz bin Salman Al Saud and the Minister of Energy and Natural Resources of Türkiye Alparslan Bayraktar.
In accordance with the document, the parties will develop cooperation in the oil and gas sector, in the production and trade of petrochemicals and refined products.
Moreover, the sides will work together on the use and application of modern technologies, especially batteries, to promote digital transformation, innovation, the application of artificial intelligence and cybersecurity in the energy sector.
Riyadh and Ankara will also encourage investment in the development of energy supply chains.