PAKISTAN OBSERVER - SEPTEMBER 1, 2016
Dr. Theodore Karasik
SAUDI Deputy Crown Prince Mohammed bin Salman’s visit to the People’s
Republic of China illustrates a new heightening of Beijing’s importance
to Riyadh’s Vision 2030. Although politics, such as China’s recent
outreach to Syria, may raise eyebrows, there is an irreversible
strategic plan between the two giants that is important to flesh out at
this juncture.
First is the energy security link between the Kingdom and China. Both
countries exhibit a multi-tiered foreign policy designed to acquire and
secure long-term energy supplies by diversifying their sources of oil
and gas, engaging in “energy diplomacy,” and establishing energy
reserves.
Plans to cooperate with China in storing crude oil is the beginning of a
new level of strategic partnership that is likely to feed East Asia.
Saudi Energy Minister Khalid Al-Falih said Aramco is in talks with China
National Petroleum Corporation and Sinopec for investment opportunities
in refining, marketing and petrochemicals. Saudi Arabia reportedly
wants China to invest in Aramco’s public offering.
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