The United Arab Emirates has been increasing its energy cooperation with other nations and also trying to strengthen its ties with the older alliances. UAE wants to make a transition to renewable and clean energy from the fossils.
The African Energy Chamber (AEC) has signed an agreement with ADIPEC and officially endorses the conference and exhibition and invites all its partners to join the African delegation participating in Abu Dhabi International Power Exhibition and Conference (ADIPEC). Gabriel Mbaga Obiang Lima, minister of mines and hydrocarbons of Equatorial Guinea, stated that the good news for Equatorial Guinea and many African countries is, that they have the resources. African countries have some much-untapped reservoirs of oil and natural gas that have been unexplored and also regretted to some extent. He also stated that they need to attract investment in the oil and gas industry, explore, supply the market and also develop the African countries in the process. ADIPEC is a great place to meet potential investors. unique relationship with the UAE through OPEC and the GECF of the African countries can prove especially beneficial to the cooperation. ADIPEC is being organized on the back of tremendous growth in investment and cooperation between the UAE and Africa this year, marked by the recent acquisition by ADNOC of Kosmos Energy’s stakes in Senegalese and Mauritanian offshore licenses. Middle Eastern markets and global companies are showing a growing trend in the interest for the African markets, ADIPEC offers the perfect stage to promote additional opportunities for such deals across African oil jurisdictions.
UAE with these alliances is coming to the global energy race and is expected to make some rapid progress by doing so.