China’s Xi says he wants to deepen energy cooperation with Arab countries, ET EnergyWorld

Beijing: Speaking at a forum of regional leaders and diplomats in Beijing, Chinese leader Xi Jinping said on Thursday he would seek to deepen energy cooperation with Arab countries.

China, which has intensified diplomatic exchanges with Middle Eastern leaders in recent years, is a key customer for the region’s oil-exporting countries.

“China will continue to strengthen strategic cooperation with the Arab side in the field of oil and gas and integrate supply security with market security,” Xi said, according to a reading of his speech by the Ministry of Foreign Affairs.

He added: “China is ready to cooperate with the Arab side in research and development in new energy technologies and equipment production.

“We will support Chinese energy companies and financial institutions to participate in renewable energy projects in Arab countries with a total installed capacity of over three million kilowatts.”

At the end of 2022, Xi visited Saudi Arabia to hold talks on deepening energy cooperation. China is the kingdom’s main buyer of oil.

Beijing is hosting Egyptian President Abdel Fattah al-Sisi and several other Arab leaders this week for a forum where the war between Israel and Hamas is expected to be a major topic of discussion.

China’s presence in the Middle East is expanding, to the dismay of leaders in Washington who warn of the negative consequences of its greater influence in the region.