Greece and Saudi Arabia have reached an agreement for the installation of a subsea data cable that will connect Europe with Asia and also discussed the prospect of linking their power grids to supply Europe with lower-cost green energy.

A memorandum of understanding for cooperation related to the energy sector was signed during an official visit of Crown Prince Mohammed bin Salman Al Saud with his delegation.

The MoU was signed by Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy, and Nikos Dendias, Greece’s Minister of Foreign Affairs.

It establishes a framework for cooperation between the two countries in fields including renewable energy, electrical interconnection, exporting electricity to Greece and Europe, clean hydrogen and its transfer to Europe, energy efficiency, and the oil, gas and petrochemical industry.