The fields of energy cooperation between Greece and Saudi Arabia were at the centre of a meeting between the Deputy Minister of Environment and Energy, Alexandra Sdoukou, and the Assistant Minister of Energy of the Kingdom of Saudi Arabia, responsible for Electricity, Nasser Hadi Al- Qahtani. The face-to-face meeting took place in Athens at the invitation of Mrs. Sdoukos to her Saudi counterpart last August.
During the bilateral meeting of the delegations of the two countries – where the heads of the Interministerial Energy Cooperation Committee of the Ministries also participated, Dr. Theodoros Tsakiris and Dr. Yasser Al Turki – Mrs. Sdoukou and Mr. Qahtani underlined the strategic importance of energy in deepening bilateral cooperation and promoting regional stability, in the context of the broader realignments created by the new intended India-Middle East economic and trade corridor -European (IMEC).
The two officials recognised the issues of Hydrogen, RES and Electrical Infrastructure as priority areas of Greek-Saudi cooperation. In this context, particular emphasis was placed on the Shareholders Agreement (SHA) signed by the Electricity Transmission System Operators of Greece (ADMIE) and Saudi Arabia (National Grid S.A – Saudi Electricity Company).
Establishing the company, Saudi Greek Interconnection, between ADIME and National Grid S.A- Saudi Electricity Company, is the first essential step for the maturation of the electrical interconnection between Greece and Saudi Arabia.
The relevant agreement was signed – on the sidelines of the ministerial meeting – by the President and CEO of ADMIE, Manos Manousakis and the CEO of National Grid, Eng. Abdullah Waleed Al-Saadi.
The objective of Saudi Greek Interconnection is the preparation of studies for the commercial viability of the interconnection project. ADMIE and National Grid will hold a 50% stake each in the special-purpose company.
The partnership between the Transmission System Operators of Greece and Saudi Arabia – which is sealed officially through the establishment of the Saudi Greek Interconnection – comes following the official visit of the Crown Prince of Saudi Arabia, Mohammed bin Salman bin Abdulaziz Al Saud, to Greece in the summer of 2022 and the talks he had with the Prime Minister, Kyriakos Mitsotakis. The Memorandum of Understanding (MoU) that was signed at the time for the energy cooperation between the two countries in various fields laid the foundations for the creation of the Saudi Greek Interconnection, which is, in fact, the first field of specialisation of this cooperation.
The agreement with National Grid is part of the strategy of the Ministry of Environment and Energy (YPEN) and ADMIE to participate actively in the implementation of the major energy corridors for the transfer to Europe of clean energy from North Africa and the Middle East.
Image source: YPEN
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