UAE and Japan plan to strengthen economic, industrial and energy cooperation

0

The UAE and Japan are exploring ways to strengthen economic, energy and industrial cooperation with the aim of generating low-carbon growth opportunities, including exploring the development of a hydrogen supply chain between the two countries.

Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, Special Envoy for Climate Change, and Managing Director and Managing Director of Abu Dhabi National Oil Company (Adnoc) met with senior Japanese government officials and business leaders during a three-day working visit to the country. .

Dr. Al Jaber met with senior officials including Hagiuda Koichi, Minister of Economy, Trade and Industry; Tsuyoshi Yamaguchi, Minister of the Environment; and Odawara Kiyoshi, Minister of State for Foreign Affairs, the official Wam news agency reported on Tuesday.

Discussions focused on economic and industrial development, energy supply, hydrogen and climate action.

Dr. Al Jaber reviewed the ongoing joint initiatives between the UAE and Japan in the area of ​​low carbon hydrogen and blue ammonia and highlighted the two countries’ goal of use a new commercially feasible technology to reduce carbon emissions.

“We wish to strengthen bilateral ties and further strengthen our relationship across multiple sectors, through public and private partnerships that will provide mutually beneficial growth opportunities and create increased prosperity for our two peoples,” Dr. Al Jaber said. .

“The UAE wants to leverage all facets of our relationship, including climate diplomacy, to drive economic development, enable low-carbon growth and strengthen energy security.

“The relationship between the UAE and Japan is built on long-standing energy partnerships, and we are very pleased to work closely with Japan to take advantage of the economic opportunities of the energy transition, strengthen industrial cooperation and expand economic and commercial relations”.

In 2021, the United Arab Emirates was Japan’s 10th largest trading partner. Bilateral trade between the two countries topped $30 billion in 2021, with UAE exports to Japan reaching $26 billion and imports from Japan reaching $6.2 billion. More than 340 Japanese companies are based in the United Arab Emirates and operate in various sectors, including infrastructure, industry and energy.

During the visit, Adnoc, Eneos Corporation and Mitsui agreed to explore establishing a hydrogen supply chain between the UAE and Japan.

The companies will assess the potential for converting hydrogen as a by-product of Adnoc’s refining and petrochemical operations and blue hydrogen produced from natural gas into methylcyclohexane (MCH), an efficient form of transport of hydrogen, for export to Japan.

Abu Dhabi Future Energy Company (Masdar) has also signed a first pact with Sumitomo Corporation to develop waste-to-energy projects. The two companies aim to cooperate on a series of projects, including a plant to treat 390,000 tonnes of waste and generate 25 megawatts of energy per year.

The meetings also focused on the UAE’s preparations to host COP28 in 2023 and new opportunities for strategic cooperation between the UAE and Japan, the world’s third largest economy.

Dr. Al Jaber reiterated the UAE’s commitment to Japan’s energy security and said the UAE will continue to ensure a reliable supply of crude oil and liquefied natural gas (LNG) to Japan. The United Arab Emirates is Japan’s largest supplier of crude oil, supplying more than 20% of its needs.

Updated: 07 June 2022, 12:43

!function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod ? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.tail=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘797427810752825’); fbq(‘track’, ‘PageView’);

Share.

Comments are closed.