UAE and Austria sign energy pact

The UAE and Austria have signed a Strategic Energy Security and Industrial Cooperation (SESIC) partnership agreement.

The pact was signed in Abu Dhabi in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Austrian Chancellor Karl Nehammer. 

It will focus on projects in refined products, liquefied natural gas (LNG), renewables, and hydrogen and its derivatives.

The partnership 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 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," said Sheikh Mohamed.

The partnership was signed during the Austrian Chancellor’s state visit to the UAE.

"Today's high-level meeting in Abu Dhabi marks another milestone in the long strategic cooperation between the United Arab Emirates and Austria. The United Arab Emirates are an important strategic partner for us and help us ensure our energy security," said Nehammer.

Sheikh Mohamed expressed his thanks to Chancellor Nehammer for his efforts to expand cooperation with the UAE and wished Austria continued progress, growth and stability.

The signing ceremony was attended by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court; Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor for Special Affairs at the Presidential Court; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change, and Managing Director and Group CEO of ADNOC; Khaldoun Khalifa Al Mubarak, Chairman of the Executive Affairs Authority and Member of the Executive Council; and Hamad Al Kaabi, UAE Ambassador to Austria.

A separate agreement was signed between ADNOC LNG and OMV Gas Marketing & Trading Gmbh 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 SESIC partnership capitalises on the strong energy cooperation between both countries and the existing Comprehensive Strategic Partnership Agreement signed in July 2021.