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Tuesday, 18 October 2022

MOEI, Chilean Counterpart Ink MOU To Boost Energy Sector

The Ministry of Energy and Infrastructure signed a memorandum of understanding with its Chilean counterpart to step up the exchange of information, knowledge, experiences and studies in the field of energy. The new MOU aims to enhance this vital sector the role it plays in sustainable development both locally and internationally.

Pursuant to the MOU, which was signed at the Ministry’s office in Dubai by H.E. Eng. Sharif Al Olama, Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, and H.E. Ximena Fuentes, Deputy Minister of Foreign Affairs of the Republic of Chile, in the presence of a number of officials from both sides, the two parties shall cooperate in exchanging information, knowledge and experiences. They will also hold high-profile meetings to discuss and consider issues of mutual benefit, collaborate in drafting academic theses, step up cooperation related to clean and renewable energy, organize workshops on energy related matters, and launch initiatives in support of partnership between the public and private sectors in the UAE and Chile.

HE Sharif Al Olama praised the bilateral relations between the two friendly nations which witnessed great progress during the last few years, thanks to the support of the judicious leadership of the two countries, mutual trust, respect and common interests. He stressed that the MOU is the outcome of the historical partnership between the UAE and Chile in various fields including the energy sector which is a major underpinning of national economies.

Al Olama added: “Such partnerships contribute to crystallizing the transition towards clean, renewable energy, and support the two countries' approach in drawing up projects and initiatives in support of the implementation of the Paris Agreement on Climate Change, which the UAE readily ratified. The MOU contributes to opening up broad prospects for growth and development as part of the two countries’ efforts to diversify the energy mix and rely on clean energy, and to conclude more partnerships to make the most of the opportunities associated with the global leadership of the UAE and Chile in various fields, especially those in innovation, technology and sustainability related to the energy sector.”

It is worth mentioning that the UAE aims to diversify the future energy mix and ramp up the contribution of clean energy to the total energy mix produced in the country to 50% by 2050. It also seeks to cut down the carbon footprint by 70% through the implementation of the Energy Strategy 2050 and raise individual and institutional consumption efficiency by 40%.

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