UAE and Austria Sign Energy Partnership

Published on: 28 October 2022
by KnowESG
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The UAE and Austria have signed a strategic energy security and industrial cooperation (SESIC) partnership.

The UAE President, Sheikh Mohamed bin Zayed Al Nahyan, and Karl Nehammer, Federal Chancellor of the Republic of Austria, witnessed the signing of the partnership.

The official news agency WAM said that the SESIC will focus on projects that are of interest to both countries. These projects will be related to refined products, liquefied natural gas (LNG), renewable energy, and hydrogen and its derivatives.

It will help both countries reach the goals of the Paris Agreement and the Glasgow Climate Pact by promoting sustainable development, reducing carbon emissions, and taking other steps to deal with climate change.

The partnership was signed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Dr. Magnus Brunner, Austrian Federal Minister of Finance.

Dr. Al Jaber also serves as the UAE's Special Envoy for Climate Change, as well as the managing director and group CEO of Abu Dhabi National Oil Company (ADNOC).

Sheikh Mohamed said, "The UAE and Austria have close and friendly ties with each other, and this new Strategic Energy Security and Industrial Cooperation partnership will make those ties even stronger."

“The UAE will continue to be a reliable and responsible energy provider, building and strengthening partnerships to drive economic and industrial growth, support global energy security, and power a more sustainable future.”

The United Arab Emirates is a key strategic partner for us, and they help us make sure that we have enough energy. Our discussions today went far beyond the supply of LNG for Austria’s energy supply and also covered economic cooperation and the joint fight against climate change,” added Austrian Federal Chancellor Karl Nehammer.

“I am pleased that we were also able to record this in a joint declaration. Together, we strive to work towards a more sustainable and brighter future.”

The Federal Chancellor offered his gratitude to the UAE President for the “excellent cooperation.”

Sheikh Mohamed thanked Chancellor Nehammer for his work to increase cooperation between the UAE and Austria. He also wished Austria more progress, growth, and stability in the future.

The statement also said that ADNOC LNG and OMV Gas Marketing & Trading signed a separate agreement to look for ways to supply Austria with LNG and improve its energy security for the winter of 2023/2024 while decarbonising its energy sources.

Source: Gulf Business

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