Saudi energy ministry signs cooperation deal with Neom

FILE PHOTO: Prince Abdulaziz bin Salman, state minister for Saudi Arabia’s energy ministry, left, listens as Khalid Al-Falih, Saudi Arabia’s energy and industry minister, speaks to reporters ahead of the 176th Organization Of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Monday, July 1, 2019. The OPEC+ alliance is poised to extend production cuts into 2020 as the world’s leading oil exporters fret about a weakening outlook for global demand growth and the relentless rise in output from America’s shale fields. Photographer: Stefan Wermuth/Bloomberg

RIYADH (RAHNUMA): Saudi Arabia’s energy ministry reached a series of agreements Sunday with the new mega city Neom.

Energy minister Prince Abdul Aziz bin Salman and Neom CEO Nadhmi Al-Nasr signed the memorandum of understanding in several energy fields, Al Arabiya reported.

Prince Abdul Aziz described the scale of Neom as larger than a middle-sized country.

He stressed the importance of working hard on the “huge, vital project,” which is one of the goals of the Kingdom’s Vision 2030.

“We all hope that as citizens, the Neom project will accomplish all its goals and on time…and if we want to do so, we have no choice but to be up to the work and ambition required for this project,” he said.

Neom aims to produce 15 gigawatts of renewable energy by 2030, which is equivalent to a quarter of the Kingdom’s electricity consumption at peak times, the minister added.

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