The Kingdom of Saudi Arabia is a key energy, economic, and security partner to the United States, and plays an important leadership role in the Middle East. Saudi Arabia has the world’s largest crude oil production capacity, and is a significant player in the world oil market.
In April 2016, Saudi Arabia released Vision 2030, a national strategy designed to modernize the country’s economy and society. Vision 2030 includes goals of reducing its reliance on oil revenues for economic growth; 9.5 gigawatts of renewable energy by 2030; and liberalizing domestic energy prices. The Saudi Ministry of Energy, Industry, and Mineral Resources (MEIM) is expected to play a central role in the Kingdom’s efforts to achieve these goals.
DOE's Office of International Affairs has strong ongoing cooperation with MEIM, which is supported by an annual United States and Saudi Arabia Bilateral Energy Dialogue. This annual meeting provides an opportunity to address issues of mutual interest, review areas of cooperation, and identify new areas for collaboration and research. Along with other wide-ranging cooperative efforts relevant to this energy relationship, the Bilateral Energy Dialogue provides an opportunity to exchange information on oil and natural gas outlooks, electricity development plans and potential nuclear power development, as well as to explore areas of collaboration on research and development in energy.
DOE's Office of International Affairs works with DOE's Office of Fossil Energy and Saudi Arabia partners on carbon capture, utilization, and storage initiatives through the Carbon Sequestration Leadership Forum and is discussing collaboration on research for new supercritical carbon dioxide technologies. DOE’s energy efficiency engagement with Saudi Arabia includes a Center of Excellence for Energy Efficiency (CEEE) at King Fahd University of Petroleum and Minerals. DOE’s IA also works with Saudi Arabia in multiple international fora including: Mission Innovation, the Clean Energy Ministerial, the G-20 Energy Security Working Group, and the International Energy Forum.
Secretary Perry led a Bilateral Energy Dialogue with Minister Al Falih in Riyadh in December 2017 and cooperative initiatives are ongoing.