The Head of State and Emmanuel Macron witness the signing of a comprehensive strategic partnership agreement in the field of energy

His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Emmanuel Macron, President of the French Republic, witnessed today the signing of two agreements, the first is a comprehensive strategic partnership agreement in the energy field between the UAE and France, and the second is a strategic partnership agreement between ADNOC and Total Energy.

The signing of the two agreements comes within the framework of the state visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan to France.

The first strategic partnership focuses on enhancing energy security, providing affordable energy and reducing emissions, in addition to advancing effective climate action in preparation for the twenty-eighth session of the Conference of the Parties (COP28) to be held in the UAE in 2023. The comprehensive strategic partnership agreement is based on close and solid bilateral relations and long partnerships. The long-term relationship between the UAE and France benefits from the UAE's leading position in the world as a responsible and reliable supplier of energy, as the country has the sixth largest oil reserves in the world and is committed to contributing to ensuring global energy security.

The UAE is adopting a practical, comprehensive and balanced approach to keep pace with the energy transition based on raising its production capacity of crude oil to five million barrels per day and increasing the production capacity of its global portfolio of renewable energy projects from 23 gigawatts to more than 100 gigawatts by 2030.

The UAE, through the Abu Dhabi Future Energy Company "Masdar" and other platforms, is also investing more than $50 billion in clean energy projects on six continents, including 27 island countries that are most vulnerable to the effects of climate change.

The two agreements were signed by His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, His Excellency Bruno Le Maire, Minister of Economy, Finance, Industrial and Digital Sovereignty, and His Excellency Agnès Pannier-Runacher, Minister of Energy Transition, while the second agreement was signed by His Excellency Dr. Sultan bin Ahmed Al Jaber and Mr. Patrick Pouyanne, CEO of Total.

On this occasion, His Excellency Dr. Sultan Ahmed Al Jaber said: "The UAE continues to consolidate its position as a reliable energy provider and a major contributor to ensuring global energy security, with a focus on promoting effective climate action..and that under the wise leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President The state".

He explained that this comprehensive strategic partnership in the field of energy provides an effective platform to enhance cooperation with the French Republic, which is a close strategic partner of the UAE, to provide safe and sustainable energy at affordable prices that contribute to economic growth, prosperity and progress for our two friendly countries and all countries of the world.

He added: "In line with the wise leadership's directives to build bridges of friendship and cooperation with the international community, we continue to build strategic partnerships in all areas of traditional and renewable energy, take advantage of the economic opportunities offered by the transformation in the energy sector, enhance industrial cooperation and benefit from technology exchange... The historic agreement contributes to strengthening partnership relations between the UAE and France in all areas of the value chain of the energy sector, and allows us to benefit from new energy solutions and advanced technology to reduce the repercussions of climate change and support sustainable economic and social growth.”

The UAE is adopting a low-carbon path to achieving sustainable economic growth and is keen to accelerate climate action in preparation for hosting COP28.

While the UAE is the first country in the region to sign and ratify the Paris Agreement, and the first country to commit to reducing emissions in all economic sectors, it is also the first country to announce its strategic initiative to achieve climate neutrality by 2050 as a catalyst for achieving low-carbon economic growth that creates new technologies, sectors, skills and jobs. .

The comprehensive strategic partnership agreement includes all aspects of mutual interest, including direct investment in the development of all energy resources with a special focus on energy security and efficiency projects, clean technologies and the transformation of the energy sector.

The comprehensive strategic partnership in the fields of energy establishes a framework for bilateral cooperation in the energy sector, based on the principles of equality and mutual benefit for the public and private sectors of the two countries.

The comprehensive strategic partnership in Taqa provides an ideal platform to explore areas of bilateral cooperation in the development and production of hydrocarbon fuels and liquefied natural gas, the establishment and development of flexible supply chains, carbon capture, use and storage technologies, low-emission hydrogen production and the development of hydrogen infrastructure, in addition to solar and wind energy projects around the world. .

The cooperation also includes benefiting from the experiences France gained after hosting the twenty-first session of the Conference of the Parties (COP21) in preparing to host the twenty-eighth session of the Conference of the Parties (COP28), to be hosted in the UAE next year, in addition to cooperation in the fields of technology and sustainable aviation fuel production. And green financing for energy projects, in addition to the possibility of cooperation in other areas to be agreed upon later.

A joint working group will be established to facilitate the implementation of the Comprehensive Strategic Energy Partnership, coordinate all activities stipulated in the agreement, and monitor progress.

France has close and long-term relations with the UAE, as Total Energy has been working in the oil and gas sector in the Emirate of Abu Dhabi since 1939.

Total Energy and ADNOC closely collaborate on several projects along the oil and gas value chain, including offshore and onshore oil and gas exploration and production, natural gas processing and liquefaction, product marketing, research and development, and national talent development.

In 2020, French exports to the UAE amounted to 3.1 billion euros, while France's imports from the UAE amounted to 750 million euros during the same period.

The UAE hosts the largest number of French companies in the Middle East (600 companies employing more than 30,000 employees), with their number increasing by about 10% annually in recent years.

The signing of a strategic partnership agreement between ADNOC and Total Energies to explore opportunities to enhance long-term cooperation between the two companies to serve common interests, in areas including increasing gas production, carbon capture, use and storage, trade and product supply.

Total Energy is ADNOC's largest international partner, working in the oil and gas sector in Abu Dhabi since 1939, and its partnerships with ADNOC cover all areas of the oil and gas value chain.

The new agreement creates more opportunities that create sustainable value for the two companies.

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