The United Arab Emirates and the Russian Federation today signed a "Declaration of Intent" for joint cooperation in the field of energy, particularly in clean energy. The two sides agreed on new plans and work mechanisms to develop proactive policies that enhance joint efforts supporting their respective future goals for sustainable development and the Paris Agreement on climate change, as both nations are leaders in environmental preservation and global centers for supporting the green economy. They also agreed to form a working group in the field of hydrogen, aiming to enhance aspirations to expand clean energy production.
This took place during a joint meeting held on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference “ADIPEC 2021,” chaired by His Excellency Engineer Sharif Al-Olama, Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum, and His Excellency Pavel Sorokin, Deputy Minister of Energy of the Russian Federation, representing his government, in the presence of several government officials and representatives from the private sector and investment companies from both countries.
On the sidelines of the meeting, the working group held a discussion session titled "Digital Technologies in Oil and Gas," as part of a program that includes scientific exchange, government workshops, and organizing mutual visits of delegations. His Excellency Sharif Al-Olama praised the bilateral relations between the two friendly countries, which have witnessed significant progress over the past few years, thanks to the support of the wise leadership of both nations, mutual trust, respect, and shared interests. He emphasized that the memorandum is an extension of the historical partnership between the UAE and Russia across various fields, including the close partnership in the energy sector, which is a major support for national economies.
Al-Olama stated that such partnerships contribute to shaping the transition towards renewable clean energy and support the two countries' focus on formulating projects and initiatives that support achieving the Paris Agreement on climate change, which the UAE was among the first countries to ratify. They contribute to opening wide horizons for growth and development within the efforts of both states to diversify their energy mix, rely on clean energy, and build more partnerships and enhance cooperation to leverage opportunities related to both countries' global leadership in various fields, particularly those linked to innovation, technology, and sustainability in the energy sector.
The Undersecretary of the Ministry of Energy and Infrastructure invited Russian companies and the business community to explore investment opportunities and joint work with the UAE in the energy sector, as well as in oil, gas, and manufacturing industries, culminating in the distinguished relations connecting both countries on all fronts, which would support the partnership journey and encourage mutual investment.
In turn, His Excellency Pavel Sorokin affirmed that the "Declaration of Intent" embodies the strength of bilateral economic relations and the mutual commitment to developing them in line with their objectives. He pointed out that Russia is looking forward to enhancing bilateral cooperation with the UAE at all levels, especially in energy in all its forms. He noted that these meetings are a significant step toward facilitating the access of entrepreneurs, investors, and small and medium-sized enterprises specializing in the oil and gas sector specifically and energy in general to the markets of both countries.
Both sides agreed to take practical steps to open up avenues for cooperation between Russia and the UAE in the oil and gas sector in the era of green energy, exchange experiences related to digital technologies, as well as enhance energy ties between the two countries and support the sustainable development strategies in each. They seek to explore opportunities for cooperation to increase mutual direct investments in this vital sector in the coming phase, and encourage the private sector in both countries to work together to achieve sustainable growth and support national economies.
According to the signed Declaration of Intent, the possibility of cooperation in developing artificial intelligence and digital services will be explored, along with the exchange of expertise and best practices in the clean energy sector, including hydrogen as the promising new source of future energy, owing to significant international efforts to adopt it as an important source. Additionally, there will be targeted collaboration aimed at reducing or eliminating carbon emissions associated with hydrogen production, which is a priority for both friendly countries.
The "Declaration of Intent" also includes both parties' commitment to sustainable development in implementing energy policies and science and technology, considering changing economic, social, and environmental factors such as climate change, and enhancing investment and trade opportunities as well as access to markets in the energy field and related equipment and services. There is also a focus on the strategic importance of developing joint approaches at the international level to enhance market access, in addition to sustainable development of energy resources.
