Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Friday, Oct 04, 2024

Saudi Arabia and Thailand sign landmark agreements on energy

Saudi Arabia and Thailand sign landmark agreements on energy

Saudi Arabia and Thailand on Friday signed landmark agreements on energy cooperation and renewable power during Crown Prince Mohammed bin Salman’s visit to Bangkok.
The crown prince is a special guest of the Thai government at the Asia-Pacific Economic Cooperation leaders’ meeting in the city.

The main agreement on energy cooperation was signed at a meeting between Saudi Energy Minister Prince Abdulaziz bin Salman and Thai Energy Minister Supattanapong Punmeechaow.

“It will be a framework to seek energy cooperation that will be beneficial to Thailand and Saudi Arabia in different dimensions such as petrochemical cooperation, hydrogen fuel, carbon capture and storage, circular economy development, and low carbon technology, promoting energy innovation, exchanging useful information and experience regarding energy,” Punmeechaow said.

Representatives of ACWA Power, who are part of the Saudi delegation in Bangkok, also signed a deal on renewable power development with Thailand’s state-owned oil and gas company PTT and the state-owned power supplier Electricity Generating Authority of Thailand.

The agreement to develop a green hydrogen/ammonia project in Thailand would “expand cooperation in the energy sector,” Punmeechaow said. “Its objective is to push forward and develop hydrogen fuel in Thailand.”

A third agreement was signed by the Saudi Ministry of Investment and the Electricity Generating Authority of Thailand to promote energy transition, the Thai minister said.

Thailand’s energy policy focuses on reducing dependence on natural gas and fossil fuels to enhance energy security and reach its ambitious target of supplying 30 percent of power from renewable sources by 2037. Its current power generation mix comprises only 14.9 percent renewables.

The Saudi crown prince’s visit to Thailand is a historic moment in Riyadh-Bangkok ties, which stalled in the 1980s and were restored only this year, when Thai Prime Minister Prayuth Chan-ocha visited Saudi Arabia on the crown prince’s invitation.

Many agreements and official exchanges have followed since. The volume of trade between the two countries has significantly increased, and more is on the agenda as regaining access to Saudi Arabia has for many years been a priority for the Thai government.

The restored relationship gives Thai exporters and investors more access to opportunities in the Gulf and beyond. “This is a big, big issue for Thailand. Saudi Arabia is a critical partner in the Middle East,” Prof. Thitinan Pongsudhirak, director of the Institute of Security and International Studies in Bangkok, told Arab News.

“That is a gateway for Thailand to reengage and reenter Middle East markets. Without the Saudi Arabia relationship, a lot of doors were closed. Now, more doors will be opened.”
Newsletter

Related Articles

Hong Kong News
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
'I am not your servant': IndiGo crew member, passenger get into row over airline meal
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
×