Saudi Arabia Lines Up Energy Deals Before Joint Russia Meeting

29/08/2025 06:39 AST

Saudi Arabia is preparing a raft of energy agreements to be signed at the upcoming session of the Saudi-Russian Joint Governmental Committee, set to convene in Riyadh in November.

The joint committee, established in 2002, coordinates cooperation in trade, economics, science and technology, as well as in industry, space, information technology, communications, urban development, finance, banking and transport.

Saudi Arabia's Energy Ministry has instructed private-sector companies to submit all ready-to-sign agreements ahead of the meeting, the sources said.

Energy Minister Prince Abdulaziz bin Salman will chair the session from the Saudi side, while Russian Deputy Prime Minister Alexander Novak will lead Moscow's delegation. Novak visited Riyadh in late July for talks with Prince Abdulaziz on bilateral cooperation.

That meeting resulted in direct flights between the two countries and the signing of memoranda of understanding in sectors including industry, education, media and religious tourism.

The ninth session of the Saudi-Russian Joint Committee is scheduled for Nov. 6 in Riyadh. Saudi officials say growing cooperation has helped boost bilateral trade, which exceeded $3.8 billion in 2024, up more than 60% year-on-year, with momentum accelerating at the start of this year.

Saudi-Russian ties date back nine decades and have long been marked by converging interests and shared views, officials from both sides say. The partnership has expanded to harness the vast potential of the two economies, with leaders in Riyadh and Moscow keen to deepen collaboration across multiple sectors.

The committee's last session, held in Moscow, brought together officials from several government agencies. Discussions focused on energy, trade, investment, information technology, healthcare, education, media, culture, sports, tourism, transport, natural resources, agriculture and other key areas of cooperation.

Asharq Al Awsat