The UAE and the UK signed a Memorandum of Understanding (MoU) to build cooperation in several sectors, including biomass projects, sustainable fuels, carbon capture, and energy.
The agreement was signed between UAE’s Ministry of Energy and Infrastructure and the UK’s Department for Business, Energy & Industrial Strategy.
Its aim is to double down on strategic and technical cooperation in the energy sector and the field of renewable energy and climate tech, which also includes developing the regulatory frameworks and providing incentives.
Specifically, the agreement focuses on peaceful nuclear energy, low-carbon hydrogen, waste conversion, as well as carbon capture, utilization and storage (CCUS) projects.
With the help of the MoU, both the UK and UAE hope to enable opportunities for investment and market access in the energy sector that will, in turn, aid the development of energy resources and drive the adoption of low-carbon, sustainable energy supplies at lower costs.