The Philippines and the United Arab Emirates have identified areas of collaboration under an energy transition cooperation deal.
The Department of Energy (DOE) in a statement on Sunday said these include renewable energy (RE); liquefied natural gas as a transition fuel; power generation, transmission and distribution system; nuclear energy; energy efficiency and conservation; and alternative fuels and emerging technologies.
The DOE said a memorandum of understanding (MOU) on Energy Transition Cooperation was reached during the working visit of President Ferdinand Marcos Jr. to the UAE last week. Marcos met UAE President Mohammed bin Zayed Al Nahyan last November 26.
By attracting investments in energy infrastructure, the partnership will generate new jobs, enhance local expertise through technology transfer and capacity building as well as support the development of a robust energy ecosystem.
To operationalize the MOU, an implementation agreement with a UAE state-owned company is expected in January.
The terms of the agreement discussed with UAE Minister of Energy and Infrastructure Suhail Mohamed Faraj Al Mazrouei aim to position the Philippines as a prime destination for Emirati investments in critical energy sectors, including developing robust energy infrastructure and advancing RE projects.
