UAE and Greece continues to have a good collaboration as they discuss joint investments on Renewable Energy

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According to the Greek Prime Minister’s Office, Greece and the United Arab Emirates have agreed to jointly fund investments worth 4 billion euros ($4.2 billion) in the Mediterranean country and to explore expanded collaboration in the energy industry. According to his office, Prime Minister Kyriakos Mitsotakis met with Crown Prince Sheikh Mohammed bin Zayed al-Nahyan in Abu Dhabi and discussed measures to deepen bilateral ties as well as the impact of the Ukrainian conflict. “It is critical to renew the successful relationship between the Hellenic Development Bank and Mubadala Investment Company, as well as to establish a joint initiative for investments worth 4 billion euros,” it stated.

According to Mitsotakis, there is opportunity for more renewable energy collaboration between the European Union and the UAE. “Greece has the potential to become a gate for natural gas from the Middle East to Europe due to its geographical location,” Mitsotakis remarked. “We would like to investigate the potential for more strategic cooperation and the participation of money from the UAE in this direction,” he said. The two countries inked nine agreements on Monday, including ones in technology, energy, and health. The Abu Dhabi National Oil Company and Motor Oil Hellas Corinth Refineries have agreed to investigate liquefied natural gas supply options in Greece, which might include a proposed floating storage and regasification facility off the coast of Athens.

Source: [https://www.reuters.com/business/greece-uae-agree-joint-investments-energy-other-sectors-2022-05-09/](https://www.reuters.com/business/greece-uae-agree-joint-investments-energy-other-sectors-2022-05-09/)