PARIS — France and the United Arab Emirates on Monday signed an arrangement on energy cooperation to makesure oil and natural gas products from the Gulf nation as Europe prepares for the possibility of a overall gas cutoff from Russia in retaliation for sanctions over the war in Ukraine.
The offer revealed by the French economy ministry comes as President Emmanuel Macron is hosting UAE Plocal Mohammed bin Zayed Al Nahyan in Paris.
“The contract we are finalizing with the United Arab Emirates is of double tactical value: it permits us to address the pushing obstacles of energy security in the brief term, while preparing for a de-carbonized future,” French Finance Minister Bruno Le Maire stated in a declaration.
The ministry did not supply information on the contract or when it will be signed.
Other trade and energy contracts are anticipated to be signed throughout Sheikh Mohammed’s initially state checkout to France because he was selected president of the Western-allied country of 7 sheikhdoms in May. They consistof an contract inbetween the French energy giant TotalEnergies and Abu Dhabi National Oil Company to makesure energy supply, the economy ministry stated.
France has deep ties to the UAE, and the 2 leaders have established a individual relationship. It paid off throughout Macron’s see to Abu Dhabi last year that resulted in a 16 billion-euro ($18 billion) arms offer with the Gulf ally, the largest-ever French weapons agreement for export.
Their conference Monday comes as the war in Ukraine raves into the 6th month and Europe is in the grip of a sweltering heat wave. European