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UAE, Israel eye energy, infrastructure cooperation
The energy ministers of the UAE and Israel explored possible investment opportunities in energy, infrastructure, oil, gas, and renewable energy in a video call on Wednesday.
The two countries also focused on advanced technology companies in the field of energy and cybersecurity.
Israeli Energy Minister Yuval Steinitz said that he had spoken with UAE Minister of Energy and Infrastructure Suhail Al-Mazrouion to cooperate in linking power grids and developing the natural gas market for exports via pipeline to Europe.
During the call, Suhail also reviewed the UAE Energy Strategy 2050, which is the country's first unified energy plan that balances production and consumption aspects with global environmental obligations.
The UAE plans to shift toward green energies.
Steinitz also proposed that UAE join an Egypt-based East Mediterranean Gas Forum seeking to promote natural gas exports from the East Mediterranean, which also includes Israel, Greece, Cyprus, Italy, and Jordan.
Israel and the UAE established diplomatic relations on Sept. 15, which Steinitz said has presented the region with a “historic opportunity” for energy development.