ABU DHABI / WAM
UAE companies are using best-in-class technologies, and they have
a very good presence in the US
market, buying gas, producing petrochemicals and creating job opportunities, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry.
The minister made the statements in a joint news conference Wednesday with US Secretary of Energy Rick Perry after the 7th Ministerial Meeting of Carbon Sequestration Leadership Forum (CSLF) which was held in Abu Dhabi.
“US gas is an opportunity in terms of cost and quality, and this has incentivised petrochemicals companies to move to the US market. We are buying large quantities of gas and we are expanding. Our companies, like Mubadala Investment, have a very good presence in the US market, creating jobs there and this is the collaboration we have stressed during the forum. We are either bringing the gas here or utilising it there,” the minister added. He underscored the importance
of accelerating the private sector’s involvement in the global deployment of carbon capture, utilisation, and storage (CCUS).
“The private sector is needed not only to accelerate deployment but also to augment financing in order to drive down the costs of CCUS, identify new commercial models and develop the next generation of CCUS technology.” he added.