Minister of Energy, Industry and Mineral Resources Eng. Khalid bin Abdulaziz Al-Faleh participated here today in the Energy Efficiency and Energy Development International Forum (Russian Energy Week) which was held during the visit paid by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud to Russia. Russian Energy Minister Alexander Novak and a number of senior officials responsible for energy industry around the world also participated in the Forum. In his speech during the Forum, Eng. Al-Faleh stressed that the Kingdom of Saudi Arabia welcomes all sources of energy, including solar energy. He also said that a new investment in the renewable energy is available currently in the northern region of the Kingdom of Saudi Arabia, where the Russians can join this investment. Eng. Al-Faleh praised the visit paid by the Custodian of the Two Holy Mosques to Russia which will serve the interest of the two countries and the whole world. The Minister of Energy, Industry and Mineral Resources pointed out that the Kingdom of Saudi Arabia has established a solar energy generating unit during this week with the lowest cost globally. In a statement to Saudi Press Agency (SPA) following his participation in Forum, Eng. Al-Faleh said that "The Saudi-Russian cooperation in the economic field is continuous and we are working on enhancing it," adding that the major factors of oil market tend to be balanced and oil inventories are decreasing continuously, supported by the world's strong demand for oil.
