The UK and UAE have signed a Memorandum of Understanding (MoU) expected to help facilitate the sharing of technical knowledge, advice, skills, and expertise, opening up new avenues for cooperation on energy and climate, while boosting jobs and investment in the UK.
Courtesy of GOV.UK
UK Business and Energy Secretary Grant Shapps said: “The UK is immensely proud of its longstanding relationship with the UAE. Today’s latest agreements provide further evidence that not only we are strengthening our energy security and lowering bills for consumers in the long term, we’re also unlocking huge opportunities for investment in British expertise and jobs in the process.”
“International cooperation on energy and climate with close partners like the UAE is vital and as they take centre stage as hosts of COP28 later this year, they will have our full support every step of the way.”
The MoU, signed during the Abu Dhabi Sustainability Week, replaces the two countries’ 2018 MoU signed on cooperation in the field of energy.
It has been expanded to encompass the full scope of bilateral cooperation, including the new low-carbon super-fuel hydrogen.
The MoU also follows the Partnership for the Future (P4F), signed during President Sheikh Mohammed bin Zayed Al Nahyan’s visit to the UK in September 2021.
The P4F is complemented by the existing Sovereign Investment Partnership (SIP), agreed in March 2021 to serve as a coordinated investment framework to grow a future-focused relationship between the two nations, driving economic recovery, jobs, and growth.
The MoU builds on ADNOC as well, the UAE’s energy company, taking a 25% stake in the design stage of BP’s blue hydrogen project, H2Teesside, last year, and acknowledges the progress the UAE has made so far on climate action.
