Deal to explore opportunities in gas growth, CCUS and trading and product supply
Abu Dhabi National Oil Company (ADNOC) and TotalEnergies recently signed a strategic partnership agreement to deepen their long-standing partnership and explore new opportunities for growth across the energy value chain.
The agreement was signed in the presence of the UAE President HH Sheikh Mohamed Bin Zayed Al Nahyan and the French President Emmanuel Macron, during the UAE President’s state visit to France.
It was signed by HE Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, and Patrick Pouyanné, Chairman and CEO, TotalEnergies.
Under the terms of the agreement, ADNOC and TotalEnergies will explore opportunities to collaborate in areas of mutual interest including in gas growth, carbon capture utilization and storage (CCUS) and trading and product supply.
“We look forward to working with TotalEnergies to unlock the opportunities presented by the agreement across the energy value chain,” stated HE Dr. Al Jaber.
“Our partnership across the entire energy value chain allows our two companies to join forces to contribute to the energy supply of global markets, while reducing carbon emissions from our operations,” commented Pouyanné.
This strategic partnership agreement follows the signing of the UAE-France Comprehensive Strategic Energy Partnership (CSEP) which is focused on enhancing energy security, energy affordability and decarbonization, as well as progressive climate action ahead of COP28 (28th Session of the Conference of the Parties) take place in the UAE in 2023.