The UAE Ministry of Energy and Infrastructure signed a Memorandum of Understanding (MoU) with the Department for Business, Energy & Industrial Strategy in the United Kingdom of Great Britain and Northern Ireland.
The memorandum aims to exchange information, knowledge, expertise and studies in the field of energy and promote it for the vital role it plays in sustainable development at the local and international levels, reported Wam.
The signing ceremony was attended by Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, at the office building of the Ministry of Energy and Infrastructure in Abu Dhabi.
The MoU was signed by Sharif Al Olama, Under-Secretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, and Grant Schapps, Secretary of State for Business, Energy and Industrial Strategy of the United Kingdom, in the presence of a number of officials from the two countries.
The pact is aimed at enhancing strategic and technical cooperation in the energy sector, developing renewable energy technologies including regulatory frameworks and incentives.
It also steps up cooperation in smart grids and related technologies, in addition to environmentally sustainable transportation, electric vehicles, sustainable alternative transportation fuels, biomass projects, waste conversion to energy, and carbon capture, utilisation and storage projects.
The memorandum also stresses their cooperation in peaceful nuclear energy and related policies and technology, low-carbon hydrogen, exchange of information, knowledge and experiences, holding high-level meetings to discuss and consider issues of mutual benefit, bolstering collaboration in clean and renewable energy, and organising workshops for events related to the industry.
The MoU also includes the commitment of the two parties to sustainable development in implementing energy, science and technology policies, taking into account economic, social and environmental considerations with regard to climate change.
It also records their commitment to investment, trade and market access opportunities in the field of energy, in addition to sustainable development of energy resources, and encouraging companies in the private sector and industrial entities to engage in more cooperation and explore more business opportunities, stated the Wamreport.
Al Mazrouei said the MoU was greatly significant in light of the common interest of both countries as it helps them implement an energy policy that would provide low-carbon, safe and sustainable energy supplies at affordable prices.
Both nations, he stated, realise the importance of the need to improve energy efficiency and decarbonisation of its components, and the need to develop renewable energy technologies to help reach zero carbon emissions by 2050.
Al Mazrouei further highlighted the crucial role undertaken by the UAE and the UK in laying the foundations for climate action as the UAE is getting ready to host the 28th session of the Conference of the Parties (COP28) and in light of the outcomes of COP 26 in the UK.