The Department of Energy (DOE) announced on Monday the dispatch of an energy mission team to Saudi Arabia aimed at enhancing energy security and promoting sustainable development between the two nations.
The mission, which will conclude a day after, includes the signing of a memorandum of understanding (MOU) with the Saudi Ministry of Energy, led by His Royal Highness Abdulaziz bin Salam Al Saud.
Energy Secretary Raphael Lotilla said the collaboration focuses on the development and deployment of low-carbon technologies, including carbon capture, utilization, storage, and hydrogen initiatives.
The partnership builds on discussions initiated during President Ferdinand Marcos Jr.’s visit to Saudi Arabia in October 2023, when Saudi state-owned companies expressed interest in investing in the Philippine energy sector.
Lotilla noted, “After 19 years, I am pleased to see the successful conclusion of our negotiations,” reflecting on the initial talks that began during his first tenure as DOE chief in 2005. The MOU is positioned as a framework for cooperation in renewable energy, natural gas, and climate change mitigation technologies.
The DOE acknowledged the collaborative efforts of the Department of Foreign Affairs, the Department of Trade and Industry, and the Philippine Trade and Investment Center in facilitating the mission.
As of the end of 2023, the Philippines imported 7.55 billion liters of crude oil, with over half sourced from Saudi Arabia, underscoring the importance of this partnership for energy security.
