Cyprus and Saudi Arabia to ink energy cooperation deal in Riyadh
"Cypriot Energy Minister Michael Damianos and Saudi Energy Minister Prince Abdulaziz bin Salman will sign a memorandum of cooperation in Riyadh on Monday to deepen bilateral energy ties. Formalized during Riyadh Energy Week, the agreement establishes a framework for technical expertise and knowledge exchange across shared energy interests as Cyprus accelerates its broader Gulf diplomatic strategy."
EU Directive 2019/790 Article 15 Attribution • Verified Energy Document
Cyprus and Saudi Arabia are set to sign a significant memorandum of cooperation in the energy sector on Monday. The agreement will be formalized during a visit by Energy Minister Michael Damianos to Riyadh, where he will meet his Saudi counterpart, Prince Abdulaziz bin Salman. The Cypriot ministry confirmed the details on Friday.
Minister Damianos is scheduled to arrive in the Saudi capital on Saturday to participate in Riyadh Energy Week. He emphasized that the upcoming signing signifies a further deepening of energy cooperation between the two nations, laying the groundwork for the exchange of expertise and knowledge on shared energy interests.
During his visit, Damianos will engage in a series of high-level meetings. On Sunday, he is slated to meet with Lebanese Energy Minister Joseph Sadi and the forum's secretary general, Jassim Alsirawi. Following the memorandum signing on Monday, he will hold discussions with Jordan's Energy Minister Saleh al-Harabsheh. Later, Damianos is expected to speak on a panel at the 25th World Energy Congress, focusing on the critical balance between energy security and environmental sustainability. He will return to Cyprus on Tuesday evening.
This memorandum builds upon previous engagements between Cyprus and Saudi Arabia. During a past visit to Riyadh by then-President Nicos Anastasiades, both countries had agreed to explore cooperation in areas such as petrochemicals and electricity, and to collaborate on localizing energy products and supply chains.
Cyprus has also been actively strengthening its energy partnerships with other nations in the Gulf region. In January, Foreign Minister Constantinos Kombos signed a memorandum with his Emirati counterpart, Sheikh Abdullah bin Zayed, in Abu Dhabi, aimed at establishing a comprehensive strategic energy partnership. This agreement followed a visit to Cyprus by Emirati President Sheikh Mohamed bin Zayed in December of the previous year. Last October, Kombos also signed a memorandum with the Gulf Cooperation Council's secretary general, initiating regular consultations and political dialogue.
The visit to Riyadh occurs as Cyprus continues its efforts to develop its offshore gas resources. Negotiations with Israel concerning the cross-border Aphrodite reservoir are anticipated to restart next week, with the Cypriot government aiming for a final investment decision on Block 12 next year.