Saudi Arabia, as regional tensions intensify, has expanded its cooperation in the energy sector with Syria, Qatar, Kuwait and Egypt.

The Central Bank of Syria announced that it has issued the first banking letter of credit to facilitate transactions of oil products between Syria’s oil company and Saudi Aramco.

At the same time, Abdulaziz bin Salman, Saudi Arabia’s energy minister, signed three memorandums of understanding with Qatar, Kuwait and Egypt. The agreement with Qatar includes cooperation in oil, natural gas and petrochemicals, and the review of the development of energy transmission and export pipelines.

These developments come as regional tensions, including clashes involving the Islamic Republic and Yemen’s Houthis, have increased concerns about energy security in the Middle East.