U.S. Secretary of Energy Chris Wright has formalized agreements with Saudi Arabia, signing a Memorandum of Understanding (MOU) on energy cooperation and a Memorandum of Cooperation (MOC) on critical minerals. The documents were signed alongside Saudi Arabia’s Minister of Energy, H.R.H. Prince Abdulaziz bin Salman Al Saud, and Minister of Industry and Mineral Resources, Bandar Alkhorayef. These signings occurred during the U.S. delegation's visit to Saudi Arabia led by President Donald J. Trump.
The MOU focuses on energy cooperation between the two nations, aiming to innovate and develop energy infrastructure and provide clean cooking solutions in developing countries. It also covers collaboration in petroleum refining, electricity generation technologies, energy storage systems, and artificial intelligence projects for energy innovations.
In addition to the MOU, the United States and Saudi Arabia signed a MOC aimed at securing supply chains for critical minerals mining and processing. This agreement seeks joint ventures and investment opportunities in refining facilities and research institutions related to mineral exploration.
“President Trump and I are excited to unveil two historic deals between the United States and the Kingdom of Saudi Arabia,” stated Secretary Wright. He expressed gratitude towards Prince Abdulaziz bin Salman and Bandar Alkhorayef for their contributions to reaching this milestone.
The agreements align with President Trump's announcement of a $600 billion investment commitment from Saudi Arabia, reinforcing economic ties between the two nations.
