President Sheikh Mohammed bin Zayed al-Nahyan said this on Monday at the start of two weeks of climate talks in Egypt where he met with Greek Prime Minister Kyriakos Mitsotakis.\u00a0 He also said the Gulf nation, which is one of OPEC’s biggest producers has also invested in renewable energy, and was focused on reducing the carbon impact of its fossil fuel output.<\/p>\n
“The UAE is considered a responsible supplier of energy and it will continue playing this role for as long as the world is in need of oil and gas,” he said.<\/p>\n
“Oil and gas in the UAE is among the least carbon-intensive around the world and we will continue to focus on lowering carbon emissions emanating from this sector.”<\/p>\n
The President said his country was among the first in the Gulf region to announce a plan for carbon neutrality by 2050 and last week signed a $100 billion agreement with the United States with the goal of adding 100 gigawatts of renewable energy globally by 2035.<\/p>\n
Egypt’s Conference of the Parties (COP) is the latest of decades of U.N. talks to try to curb climate change caused by the use of fossil fuels.<\/p>\n
Next year’s COP28 summit will be hosted by the UAE in Dubai’s Expo City and will evaluate the implementation of the 2015 Paris climate agreement that seeks to limit to global warming to 1.5 degrees Celsius above pre-industrial levels.<\/p>\n
The UAE continues to be a strategic epicenter, with business-friendly free zones and a fast-growing economy.\u00a0At present, the United Arab Emirates (UAE) is among the world\u2019s ten largest oil producers. About 96% of the country\u2019s roughly 100 billion barrels of proven oil reserves are located in Abu Dhabi, ranking number six worldwide. The UAE produces an average of 3.2 million barrels of petroleum and liquids per day.<\/p>\n
The UAE GDP for 2020 was $359 billion which mirrors the rich natural resources in the UAE, which has 10 percent of the total world supply of oil reserves and the world\u2019s fifth largest natural gas reserves.<\/p>\n
About 96% of the country\u2019s roughly 100 billion barrels of proven oil reserves are located in Abu Dhabi, ranking number six worldwide. The UAE produces an average of 3.2 million barrels of petroleum and liquids per day.<\/p>\n
The UAE seeks to develop unconventional oil and gas production. The UAE currently imports natural gas from Qatar through the Dolphin pipeline to supply power plants and desalination plants.<\/p>\n
There are huge opportunities for U.S. exporters in the oil and gas sector in the UAE.<\/p>\n
Sheikh Mohamed bin Zayed Al Nahyan born on 11 March 1961 is known by his initials as MBZ and is the third president of the United Arab Emirates (UAE) and the ruler of Abu Dhabi.<\/p>\n
Mohamed is the third son of Sheikh Zayed bin Sultan Al Nahyan, who was the first president of the UAE and the ruler of Abu Dhabi. Zayed died in November 2004 and was succeeded in his posts by his eldest son, Mohamed’s half-brother Sheikh Khalifa bin Zayed. When Khalifa<\/a> suffered a stroke in January 2014, Mohamed became the de facto ruler of Abu Dhabi, heading almost every aspect of UAE policymaking.<\/p>\n He was entrusted with most day-to-day decision-making of the emirate of Abu Dhabi as the crown prince of Abu Dhabi. Academics have portrayed Mohamed as the strongman leader of an authoritarian regime.<\/p>\n In 2019, The New York Times named him as the most powerful Arab ruler and one of the most powerful men on Earth. He was also called one of the 100 Most Influential People of 2019 by Time.\u00a0 After the death of Sheikh Khalifa on 13 May 2022, Mohamed became the ruler of Abu Dhabi; he was elected to the presidency of the United Arab Emirates the next day.<\/p>\n