Khalid bin Mohamed bin Zayed: Developing national economic diversification policies based on partnership and sustainability

ADNOC and Emirates Electricity enter into a strategic partnership with clean energy

• Khalid bin Mohamed bin Zayed stressed that the agreement reflects efforts to reduce carbon emissions.

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• ADNOC confirmed its commitment to reducing emissions.

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His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Member of the Executive Council of the Emirate of Abu Dhabi, Head of the Abu Dhabi Executive Office and Chairman of the Executive Committee of the Board of Directors of the Abu Dhabi National Oil Company (ADNOC), launched a strategic partnership in clean energy between the Abu Dhabi National Oil Company (ADNOC) and the Emirates Water and Electricity Company .

clean energy

According to the strategic partnership, which is the largest of its kind in the oil and gas sector, the Emirates Water and Electricity Company will supply ADNOC with the needs of its electrical network through electricity produced from clean nuclear and solar energy sources, under which ADNOC will become the first oil and gas company to secure The needs of its operations for zero-emission electric power, starting from January 2022, which consolidates its leading position among the oil and gas producers with the lowest carbon emissions levels, and supports its efforts and initiatives to reduce emissions and enable sustainable growth.

This strategic partnership provides Emirates Water and Electricity with a primary consumer of the energy it generates from clean sources, which includes nuclear and solar energy, and supports its efforts to invest in transformative innovations to reduce emissions in the energy sector. This partnership is also in line with the UAE’s approach and its strategic initiative to achieve Climate neutrality by 2050, and its orientation towards a low carbon future.

Climate Neutrality

His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan said that it is important to take advantage of the available opportunities to achieve the goal of climate neutrality for the UAE by 2050.

His Highness stressed that the agreement, which brings together two major entities, reflects efforts to reduce carbon emissions, thanks to the diversity and strength of the country's energy portfolio, pointing out that these agreements contribute to the development of national economic diversification policies based on partnership and sustainability, in support of the country's next 50-year plans.

His Highness stressed the importance of ADNOC's pivotal role in investing in transformational innovations, enhancing the country's efforts to reduce carbon emissions, and supporting diversification of the national energy portfolio, pointing out that the agreement constitutes an opportunity to activate long-term plans and strategies to reduce carbon emissions in various operations that It is carried out by ADNOC.

His Highness praised ADNOC's efforts and leadership in the sector, explaining that the innovative ideas it presents contribute to the national economy and enhance the pace of its growth.

energy mix

In addition, the Minister of Industry and Advanced Technology, CEO of the Abu Dhabi National Oil Company (ADNOC) and its group of companies, and Managing Director Dr. Sultan Ahmed Al Jaber, said that this strategic agreement is in line with the vision of the leadership in the UAE to diversify the energy mix, to include renewable sources and nuclear energy, as well as With the country's strategy to keep pace with the transformation in the energy sector, and contribute to progress towards achieving the Paris climate agreement.

He added: “This agreement confirms (ADNOC) commitment to responsible energy production, improving performance and enhancing profitability and economic return, with a focus on reducing emissions and enhancing its position in the field of sustainability, and as we continue our approach to reducing emissions and preparing for the Conference of States Parties to the United Nations Framework Convention on Climate Change. Climate COP26, we extend an open invitation to current and future partners to collaborate with us in providing practical solutions for a low-carbon future.”

Al Jaber stressed that thanks to this strategic partnership with Emirates Water and Electricity in the field of clean energy, ADNOC will be the first oil and gas company to secure the needs of its electric network from zero-emission energy sources, pointing out that this partnership represents a model for achieving integration between hydrocarbon resources and energy sources. Renewable energy, in an innovative way that keeps pace with the transformation in the energy sector. The agreement also directly supports ADNOC's efforts to consolidate its position among the least emission-intensive producers.

Pilot projects

For his part, Mohamed Hassan Al Suwaidi, CEO of the Holding Company (ADQ) and Chairman of the Emirates Water and Electricity Company, said that the agreement to provide clean energy in the long term confirms the commitment of the Emirates Water and Electricity Company to continue investing in the development of pioneering projects in the field of renewable energy. and achieving the ambitions of the UAE vision to develop the first nuclear power plant in the Arab world.

He added: “Within the framework of ADQ Holding’s commitments towards the sustainability of its investments, these projects play a pivotal role, as a catalyst to enhance efforts to decarbonize the energy sector, and support the UAE’s ambitious sustainable development goals, and through this agreement we are working to provide a platform that will enhance (ADNOC) aims in the field of clean energy, and to enable the Emirates Water and Electricity Company to continue investing in clean energy projects, and thus diversify the energy mix in the Emirate of Abu Dhabi.”

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