Abu dhabi: A Memorandum between Cyprus and the UAE signed on Friday in Abu Dhabi by the Foreign Ministers of the two countries provides for the establishment of a Cyprus-UAE Strategic Energy Committee aimed at monitoring and coordinating the agreed initiatives, the Ministry of Foreign Affairs said on Saturday.
According to Cyprus News Agency, the Republic of Cyprus and the United Arab Emirates (UAE) signed a Memorandum of Understanding for the establishment of a Comprehensive Strategic Energy Partnership. This agreement seeks to further deepen bilateral relations and develop a long-term and structured framework for cooperation in the energy sector.
The Memorandum, which was signed by Cyprus' Minister of Foreign Affairs, Constantinos Kombos, and the UAE's Deputy Prime Minister and Minister of Foreign Affairs, Abdullah bin Zayed Al Nahyan, reflects the shared political will of both countries to strengthen their strategic cooperation in a sector pivotal for energy security, sustainable development, and regional stability.
The announcement notes that the Memorandum establishes a cooperation framework covering the entire energy value chain. It includes cooperation in the fields of liquefied natural gas (LNG), electricity, hydrogen, and energy infrastructure, with an emphasis on investments, technology transfer, and using innovative best practices.
The cooperation aims to enhance the diversification of energy sources and the resilience of energy systems, aligning with international climate objectives while leveraging the comparative advantages of both countries. Additionally, it reinforces Cyprus' role as a reliable partner and a pillar of stability in the Eastern Mediterranean region.
For the effective implementation of the Memorandum, the establishment of a Cyprus-UAE Strategic Energy Committee is foreseen, tasked with monitoring and coordinating the initiatives agreed upon.