The Philippines is embarking on an energy mission to the Kingdom of Saudi Arabia on 14 – 15 October 2024, aimed at enhancing energy security, driving economic growth, and fostering sustainable development.
Led by the Department of Energy (DOE), this mission underscores the Philippines’ commitment to strengthening international energy partnerships and attaining diversified and sustainable energy system.
A major highlight of the mission is the signing of a Memorandum of Understanding (MOU) with the Ministry of Energy of the KSA headed by His Royal Highness Abdulaziz bin Salam Al Saud.
Energy Secretary Raphael P.M. Lotilla emphasized the significance of this MOU, noting that this follows through on the visit of President Ferdinand Marcos Jr. in October last year. Saudi state-owned companies expressed interest at that time in investing in the Philippine energy sector.
President Marcos Jr. attended the first-ever Association of Southeast Asian Nations-Gulf Cooperation Council Summit in Saudi Arabia in October 2023 wherein he highlighted the need for cooperation in energy and other areas, such as food security, logistics, supply chains, digital transformation, the free flow of goods, people, and services.
An MOU was first initiated during Secretary Lotilla’s previous stint as Secretary of Energy in 2005.
“After 19 years, I am pleased to see the successful conclusion of our negotiations,” he said, acknowledging the hard work and dedication shown by both parties.
The MOU also reflects the Philippines’ proactive approach in showcasing the country’s commitment towards a clean energy future. The MOU will provide a framework for cooperation on key areas, such as renewable energy, natural gas, as well as relevant technologies and solutions related to climate change mitigation.
The Secretary further highlights that the partnerships with Saudi Arabia extend beyond addressing the current energy needs.
As global efforts to transition to cleaner and more sustainable energy sources intensify, the Philippines and Saudi Arabia can cooperate in the development and deployment of low-carbon technologies. This could include joint research and development projects, policy exchange, and capacity building in areas such as carbon capture, utilization, and storage (CCUS), and hydrogen.
The DOE acknowledges the assistance of the Department of Foreign Affairs (DFA) and its embassies in the Middle East, the Department of Trade and Industry (DTI) and the Philippine Trade and Investment Center (PTIC) in facilitating this mission.
This mission underscores the country’s energy diplomacy efforts in pursuit of achieving energy security.
