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France has signed a strategic energy deal with the United Arab Emirates (UAE) in a bid to gain energy independence from sanctions-hit Russia. The new agreement will also permit investments by both countries in hydrogen, renewable, and nuclear energy, according to the economy and finance ministry of France. UAE leader Sheikh Mohamed bin Zayed Al-Nahyan is currently in Paris for talks with President Emmanuel Macron regarding fuel and gas supplies.
“The partnership aimed to identify joint investment projects in France, the UAE, or elsewhere in the sectors of hydrogen, renewable, and nuclear energy. In the currently uncertain energy context, this agreement will pave the way for a stable long-term framework for cooperation, opening the way for new industrial contracts,” the French government said in a statement.
France has signed a strategic energy deal with the UAE in a bid to gain energy independence from sanctions-hit Russia. The new agreement will also permit investments by both countries in hydrogen, renewable, and nuclear energy. UAE leader Sheikh Mohamed bin Zayed Al-Nahyan is in Paris for talks with President Emmanuel Macron regarding fuel and gas supplies.
The Al-Nahyan-led Emirates delegation is also expected to finalise commercial agreements between French energy and petroleum company TotalEnergies and state-owned Abu Dhabi National Oil Company (ADNOC) for collaboration in the field of energy supply, and a joint venture between Technip Energies and National Petroleum Construction Company to develop energy transition projects, European media reports said.
France gets nearly 17 per cent of its gas supply from Russia. In mid-June, gas transmission network GRTgaz revealed that France no longer gets pipelined natural gas from Russia. In March, France conducted discussions with Saudi Arabia, the UAE, and Qatar on diverting Europe’s energy supplies away from Russian fuel and gas.
Fibre2Fashion News Desk (NB)
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