The two countries signed a Memorandum of Understanding (MoU) aimed at strengthening their relations in the energy sector…reports Asian Lite News
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said the UAE is continuing 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.
Al Mazrouei made this statement during his meeting with Karine Elharrar, Israeli Minister of Energy, at the Israeli pavilion at Expo 2020 Dubai, where the two countries signed a Memorandum of Understanding (MoU) aimed at strengthening their relations in the energy sector.
“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,” Al Mazrouei said. He stressed that the accord has helped create promising opportunities for both countries and the region.
The UAE’s vision is clear and is in line with the principles and objectives for the next 50 years, by continuing the significant efforts aimed at implementing the “Projects of the 50” launched by the UAE Government, through forging partnerships aimed at ensuring the future of energy.
“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,” he said.
The MoU, which was signed by Al Mazrouei and Elharrar, in the presence of many officials from both sides, 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 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.