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UAE, Austria sign energy security partnership to promote progressive climate action

SESIC partnership will capitalise on the strong energy cooperation between both countries

The UAE and Austria have signed a Strategic Energy Security and Industrial Cooperation (SESIC) partnership, state news agency WAM reported on Thursday.

The SESIC will focus on projects of mutual interest in refined products, liquefied natural gas (LNG), renewables, and hydrogen and its derivatives. It 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 partnership was signed during the Austrian Chancellor’s state visit to the UAE by 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 Abu Dhabi National Oil Company (ADNOC), and Dr. Magnus Brunner, Austrian Federal Minister of Finance.

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President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Karl Nehammer, Federal Chancellor of the Republic of Austria, have witnessed the signing of the partnership.

“The UAE and Austria enjoy close and friendly bilateral relations and we are further deepening our ties through this new Strategic Energy Security and Industrial Cooperation partnership,” said Sheikh Mohamed. “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.”

Austrian Federal Chancellor Karl Nehammer said, “Our discussions today went far beyond the supply of LNG for Austria’s energy supply and also covered economic cooperation and the joint fight against climate change. I am pleased that we were also able to record this in a joint declaration.”

“Together we strive to work towards a more sustainable and brighter future,” he said.

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.

Source: Gulf News

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