UAE, Russia sign ‘Declaration of Intent’ in energy sector

UAE, Russia sign ‘Declaration of Intent’ in energy sector

ABU DHABI, 16th November, 2021 (WAM) -- The UAE and Russian Federation have signed a ‘declaration of intent’ to form a joint task force that will work to promote cooperation between the two countries in the energy sectors specifically in clean energy.

The announcement aims to achieve sustainable developments requirements, as well as, Paris Climate Change Agreement as the two countries are pioneers in the environmental conservation and a global centers supporting the green economy.

The two countries agreed to form a teamwork in the hydrogen sector to enhance producing clean energy.

Signed during a joint meeting between the two countries at Abu Dhabi International Petroleum Exhibition Conference ‘ADIPEC 2021’, chaired by Sharif Salim Al Olama, Under-Secretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, and Pavel Sorokin, Deputy Minister of Energy of the Russian Federation, as well as government officials and private sector representatives, also attended the meeting.

During the meeting, teams held a discussion entitled ‘Digital technologies in the oil and gas sector’ about scientific exchange, specialised training workshops, and forming mutual visits for delegations.

Sharif Al Olama, praised the bilateral relations between the two countries that have witnessed a significant development in recent years, thanks to the support of wise leadership and mutual respect, trust, and common interests.

He stressed that the signing is part of the historical partnership between the UAE and Russia in all sectors including the firm partnership in the energy sector.

"Similar partnerships could help implement the plans for transitioning into clean energy and assist both countries in drafting projects and initiatives that support the Paris Climate Change Agreement.," Al Olama said.

He invited Russian companies and business community to explore investment opportunities and work with the UAE in the energy, oil, and gas sectors.

Pavel Sorokin stated that ‘declaration of intent’ represents the strength of bilateral economic relations between the two countries and pointed that Russia looking forward to enhancing the cooperation with UAE at all levels especially in the energy sector.

Under this framework, the cooperation will be about the development of artificial intelligence and digital services, and exchange of expertise and best practices in the clean energy sector like the use of hydrogen energy, as well as reducing carbon emissions.