Clean, Renewable Energy Agreements Inked at Abu Dhabi Sustainability Week 2023

Part of the signing of an agreement between the UAE and Japan yesterday during Abu Dhabi Sustainability Week (WAM)
Part of the signing of an agreement between the UAE and Japan yesterday during Abu Dhabi Sustainability Week (WAM)
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Clean, Renewable Energy Agreements Inked at Abu Dhabi Sustainability Week 2023

Part of the signing of an agreement between the UAE and Japan yesterday during Abu Dhabi Sustainability Week (WAM)
Part of the signing of an agreement between the UAE and Japan yesterday during Abu Dhabi Sustainability Week (WAM)

More agreements and partnerships in the field of clean and renewable energy are being signed at the Abu Dhabi Sustainability Week (ADSW) 2023.

Abu Dhabi National Oil Company (ADNOC) has signed a deal with Germany’s Thyssenkrupp Uhde, which specializes in chemical engineering, to develop large-scale ammonia cracking plants.

The memorandum of understanding with the subsidiary of Thyssenkrupp Group is part of a strategy to create new markets for hydrogen and promote global clean energy value chains.

Under the agreement, the two companies will work together to develop commercial-scale ammonia cracking facilities. It will also lead to the exploration of opportunities in the clean energy value chain for the supply and shipment of low-carbon or green ammonia from the UAE to large-scale plants globally.

Also, ADNOC will undertake a pilot project with British-Omani sustainability company 44.01 to permanently convert carbon dioxide from the air into a mineral within rock formations in Fujairah.

The project, which is also being carried out in partnership with the Fujairah Natural Resources Corporation and Masdar, will involve the use of technology that permanently mineralizes carbon dioxide within rock formations found in Fujairah.

The project is due to begin this month and will use 44.01’s carbon capture and mineralization (CCM) technology to eliminate carbon dioxide from the atmosphere.

It will be powered by solar energy supplied by Masdar and is the first CCM project by an energy company in the Middle East.

In other news, the UAE and Japan on Monday signed several agreements and memoranda of understanding (MoU) to help accelerate the energy transition and the adoption of technology in industry.

Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE Special Envoy to Japan, met with Yasutoshi Nishimura, Japan’s Minister of Economy, Trade, and Industry, on the sidelines of ADSW 2023, to discuss the countries’ strong bilateral relations.



Saudi EXIM Bank Signs MoU with Credit Oman to Boost Bilateral Exports

The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
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Saudi EXIM Bank Signs MoU with Credit Oman to Boost Bilateral Exports

The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA

CEO of Saudi EXIM Bank, Eng. Saad bin Abdulaziz AlKhalb and CEO of Credit Oman, Khalil bin Ahmed Al Harthy signed a memorandum of understanding (MoU) to promote cooperation in supporting joint projects, facilitating exports, and exchanging expertise, thereby contributing to the empowerment of non-oil exports and strengthening economic and trade ties between the two countries.

This came on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12.

EXIM participated as a sponsor of the conference to enhance the bank’s role in global trade and establish strategic partnerships to support the growth and competitiveness of Saudi non-oil exports in international markets, according to SPA.

Engineer Al-Khalb also participated in a panel session during the conference alongside a distinguished group of leaders, decision-makers, and export credit experts to discuss ways to foster international trade cooperation. He affirmed that Saudi EXIM Bank is a reliable partner in the global trade ecosystem, noting that the bank’s establishment is part of the Kingdom’s broader economic transformation.

He pointed out that the bank has provided credit facilities amounting to USD 22 billion since its inception and emphasized that the bank’s A+ credit rating from Fitch Ratings will significantly impact its operations and those of its clients and partners both locally and globally. He added that the bank’s strategy is focused on building strategic pathways for local exporters.