November 24, 2021

UAE sign co-op agreement with Israel on clean energy

categories : oil and gas

The UAE today (November 23) signed an MoU with Israel for co-operation on renewable energy sector, at the Israeli pavilion at Expo 2020 Dubai.

The MoU affirms the commitment of both parties to sustainable development in implementing energy, science and technology policies while considering ever-changing economic, social and environmental considerations, such as climate change.

These partnerships will help achieve the transition to renewable energy, as well as draft projects and initiatives that support the Paris Agreement for climate change, which the UAE was among the first to ratify,' said Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, after signing the deal with Karine Elharrar, Israeli Minister of Energy.

The MoU stipulates the exchange of knowledge and expertise and the hosting of high-level meetings to discuss issues related to energy storage, most notably clean energy, as well as infrastructure cybersecurity, fossil fuels, electricity grids, smart networks, hydrogen and water issues, and ways of supporting the UAE and Israel’s energy strategies.

'The UAE and Israel have both achieved several ambitious goals in all areas, most notably in energy, since the signing of the Abraham Accords Peace Agreement between the two sides over a year ago,' stated Al Mazrouei.

He stressed that the accord has helped create promising opportunities for both countries and the region.

'The UAE continues to cooperate with various international players in the energy sector, most notably in the area of clean energy, to make it a model of leading the international efforts in the renewable energy sector,' he added.

The minister said the MoU also affirms the commitment of both parties to sustainable development in implementing energy, science and technology policies while considering ever-changing economic, social and environmental considerations, such as climate change.

It promotes investment and trade in energy, energy-related services and equipment, and highlights the strategic importance of developing common global approaches to promoting market access opportunities and the sustainable development of energy resources.

The UAE aims to diversify the future energy mix, raise the contribution of clean energy to the national energy mix to 50 percent by 2050, and reduce its carbon footprint by 70 percent by implementing the Energy Strategy 2050, and increase the efficiency of individual and institutional consumption by 40 percent, he added.

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