UAE and Austria sign energy partnership

The UAE and Austria have signed a strategic energy security and industrial cooperation (SESIC) partnership.

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Karl Nehammer, Federal Chancellor of the Republic of Austria, witnessed the signing of the partnership.

The SESIC will focus on projects of mutual interest in refined products, liquefied natural gas (LNG), renewables, and hydrogen and its derivatives, official news agency WAM reported.

It will further promote sustainable development, decarbonisation and progressive climate action as both countries work towards achieving the objectives of the Paris Agreement and the Glasgow Climate Pact.

The partnership was signed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Dr. Magnus Brunner, Austrian Federal Minister of Finance.

Dr Al Jaber is also the UAE Special Envoy for Climate Change and managing director and group CEO of Abu Dhabi National Oil Company (ADNOC).

“The UAE and Austria enjoy close and friendly bilateral relations and we are further deepening our ties through this new Strategic Energy Security and Industrial Cooperation partnership,” said Sheikh Mohamed.

“The UAE will continue to be a reliable and responsible energy provider, building and strengthening partnerships to drive economic and industrial growth, support global energy security and power a more sustainable future.”

“The United Arab Emirates are an important strategic partner for us and help us ensure our energy security. Our discussions today went far beyond the supply of LNG for Austria’s energy supply and also covered economic cooperation and the joint fight against climate change,” added Austrian Federal Chancellor Karl Nehammer.

“I am pleased that we were also able to record this in a joint declaration. Together we strive to work towards a more sustainable and brighter future.”

The Federal Chancellor offered his gratitude to the UAE President for the “excellent cooperation.” Sheikh Mohamed also expressed his thanks to Chancellor Nehammer for his efforts to expand cooperation with the UAE and wished Austria continued progress, growth and stability.

Meanwhile, a separate agreement was signed between ADNOC LNG and OMV Gas Marketing & Trading to explore opportunities to supply LNG to Austria and reinforce its energy security for the winter period of 2023/2024, while decarbonising its energy sources, the statement added.

Our new agreement with @omv will explore opportunities to supply Austria with LNG, reinforcing its energy security for the winter period of 2023 /2024, while decarbonizing its energy sources. pic.twitter.com/0Qc62h0kVh

— ADNOC Group (@ADNOCGroup) October 28, 2022