He called for smart investment in renewable energy sources

Al Jaber: The UAE is a safe, reliable and ideal business destination for investors

Al-Jaber and the US envoy, Amos Hochstein, in an interactive session.

From the source

The Minister of Industry and Advanced Technology, CEO of "ADNOC" and its group of companies, Dr. Sultan Ahmed Al-Jaber, called for smart investment in new energy sources to provide a diversified mix of energy sources, stressing that the world will continue to need oil and gas for several decades to come.

In an interactive session with the US Special Envoy and Former Coordinator for International Energy Affairs in the United States, Amos Hostein, Al-Jaber reviewed investment opportunities in the modern industries sector in the UAE, such as biotechnology, health and agricultural technology sectors, stressing that investment companies and private investment funds look to the state. The UAE, as a safe, reliable and ideal business destination for investors and entrepreneurs.

Energy and gas

In detail, the Minister of Industry and Advanced Technology, CEO of ADNOC and its Group of Companies, Dr. Sultan Ahmed Al-Jaber, stressed the strength of the strategic bilateral relations between the UAE and the United States.

He added during the fifth session of the "Atlantic Council Global Energy Forum", which is being held virtually in the capital Abu Dhabi, as part of the activities of "Abu Dhabi Sustainability Week", that the UAE has strong strategic relations with the United States in the energy field, pointing out that there are many opportunities to strengthen cooperation and partnership. In various fields, aspects of the oil and gas sector and other sectors.

He said: “We currently have concession agreements and strategic partnerships in the field of exploration with a number of American companies, including (Exxon), (Oxy) and (Baker Hughes), and there are opportunities to strengthen cooperation in the field of oil and gas production from unconventional resources, which we work To explore more of them in Abu Dhabi ».

Investment opportunities

Al-Jaber added, during an interactive session with the US special envoy and former coordinator for international energy affairs in the United States, Amos Hostein: “There are more opportunities to benefit from bilateral cooperation in the field of technologies to enhance oil extraction, and new energy sources, such as hydrogen and carbon capture technologies, as well as in The field of clean energy, which can provide practical solutions to the challenges of the climate change phenomenon, ”pointing to potential investment opportunities in the modern industries sector in the UAE, such as biotechnology, health and agricultural technology sectors, especially as investment companies and private investment funds look to the UAE, As a safe, reliable and ideal business destination for investors and entrepreneurs.

Smart investment

Al-Jaber called for smart investment in new energy sources, to provide a diversified mix of energy sources.

He said, "The UAE has made several positive contributions in finding solutions to many global challenges, including the implications of climate change."

He pointed out that Masdar launched 15 years ago to become an important center for clean technology and renewable energy in the UAE and the world, and the headquarters of the International Renewable Energy Agency (IRENA), revealing that Masdar currently has investments in renewable energy projects in 30 countries, including the UAE. .

Al-Jaber said: “When (Masdar) was established in 2006, the energy of the sun and wind was seen as having limited potential and very expensive, and by comparison, the UAE was able, at last, to achieve a new record for low-cost solar energy at a tariff of 1.35 cents per kilowatt hour. , In the largest solar energy complex in the world, which was launched in the Al Dhafra region in Abu Dhabi.

Al-Jaber explained that the oil and gas sector must be at the center of the dialogue on climate change, and that the sector plays an important role in the transition to a low-carbon future, pointing out that the world will continue to need oil and gas for several decades to come.

The

country has strong strategic relations with the United States in the field of energy.

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