Israel’s Minister of Energy and Infrastructure Eli Cohen approved in the cabinet the memorandum of understanding between the ministries of energy and infrastructure of Israel and the United Arab Emirates, which deals with cooperation between the countries in the fields of energy. In the past, the National Investment Fund of the government of Abu Dhabi purchased a percentage of the Tamar and Dalit leases for a billion dollars.

“Despite the war (in Gaza), the relationship with the United Arab Emirates remains strong,” said the Ministry of Energy and Infrastructure. “In recent years, among other things, against the backdrop of the war in Ukraine and the fight against the climate crisis, there has been an increase in demand and there is an understanding of the importance of decentralizing energy sources. In light of these processes and against the backdrop of Israel’s unique characteristics, the ministry outlines the ‘regional bridge vision’ within the framework of which Israel will strengthen its position as the connection point, as a physical and technological junction, between Europe and the Gulf countries.”

The memorandum promotes several ways of cooperation between Israel and the UAE, including in promoting renewable energy projects, hydrogen, developing the natural gas sector, clean fuels for transportation and aviation, energy storage and accumulation, cybersecurity of energy infrastructure, electricity trade, and encouraging research and development in the energy sector.