Here’s how the UAE could help as its president touches down in Paris.
France is in the midst of an energy crisis: their supplier continues to cut off supply to Europe while historic heatwaves are causing a spike in demand for gas to cool homes.
A cold winter lies ahead if prices continue to rise. But some help, temporary at least, may have just touched down in Paris.
The president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, landed in the French capital Monday to discuss the future of energy between the two nations with President Emmanuel Macron. It’s the first visit by a UAE leader to France since 1991, according to history, and is Sheikh Mohammed’s first trip to a western nation since taking office as President, underlying the strength of relations between the two countries.
I think it the visit is a sign of appreciation towards France that’s perceived in the UAE as a reliable partner in the region.
Top of the agenda for Paris and Abu Dhabi is an agreement signed Monday guaranteeing the supply of diesel from the UAE to France, according to the source. Macron and Sheikh Mohammed are also looking to set up a fund for climate-related projects, as well as investment opportunities in other energy sources, including hydrogen, nuclear, and renewables, the same source told journalists on July 15. The agenda of the visit is going to be dominated by energy issues.
I don’t expect anything regarding a boost to production, primarily due to the fact that the UAE is close to reaching its production capacities and is really tied to the OPEC+ format.
The UAE Ambassador to France Hend Al Otaiba said in a statement that the UAE’s friendship with France, which is built on decades of deep political and economic partnerships, continues to provide a lasting sense of optimism for the future.
The choice of France as the President’s first official visit is a conscious one” Gargash said, marking the strong and historic relations between the two nations.
