UAE and France sign two significant energy agreements, launch Business Council

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Emmanuel Macron, President of France, witnessed the signing of two agreements. The first, a Comprehensive Strategic Energy Partnership (CSEP), which focuses on enhancing energy security, energy affordability, decarbonisation and climate action, ahead of the COP28. The 28th session of the Conference of the Parties (COP28) is set to take place in the UAE in 2023.

The second is a strategic partnership agreement between Abu Dhabi National Oil Company (ADNOC) and TotalEnergies to explore new opportunities for growth across the energy value chain.

ADNOC, TotalEnergies sign strategic partnership agreement #WamNews https://t.co/6DGtRgYkjy pic.twitter.com/cQb4HiMq9n

— WAM English (@WAMNEWS_ENG) July 19, 2022

The partnership builds on the strong, close and long-standing bilateral relations between both countries and leverages the UAE’s position as a responsible and reliable supplier of energy.

The agreement was signed by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Bruno Le Maire, French Minister of Economy-Finance and Industrial and Digital Sovereignty, as well as Agnès Pannier-Runacher, French Minister of Energy Transition.

The UAE was represented by the Ministry of Industry and Advanced Technology and ADNOC, while France is represented by the Ministry of Economy, Finances and Industrial & Digital Sovereignty, and the Ministry of Ecological Transition.

Dr Al Jaber said, “The CSEP provides a robust platform for us to work together to better deliver secure, affordable and sustainable energy required to drive economic growth and prosperity for our countries and the world. We will continue to build bridges of partnership across conventional and new energies, as well as capitalise on the economic opportunities of the energy transition, strengthen industrial cooperation and drive sustainable growth.”

Under the terms of the second agreement, ADNOC and TotalEnergies will explore opportunities to collaborate in gas growth, carbon capture utilisation and storage, trading and product supply.

Dr Al Jaber and Patrick Pouyanné, chairman and CEO of TotalEnergies, also launched the UAE-France Business Council.

The council aims to promote economic exchanges, convey the voice of the UAE and French businesses, identify and implement private cross-investment projects.

#Mohamed_bin_Zayed and Emmanuel #Macron witness the launch of the UAE-France Business Council#WamNews https://t.co/p0QyH8uf0Y pic.twitter.com/2hBADXNc8D

— WAM English (@WAMNEWS_ENG) July 18, 2022

UAE President Sheikh Mohamed bin Zayed Al Nahyan began his inaugural official visit to France on July 18. He landed in Paris on July 17 and met Emmanuel Macron, President of France and other leaders at Élysée Palace in Paris. Earlier in the day, the two nations signed a number of agreements and memorandam of understanding (MoUs) during the President’s state visit to France

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UAE President begins official visit to France

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