The Philippines and the United Arab Emirates (UAE) have signed memorandum of understanding (MOU) on Energy Transition Cooperation, among the key agreements reached during the working visit of President Ferdinand Marcos Jr. to the UAE recently.
Energy Secretary Raphael Lotilla said in a statement Marcos met with UAE president Mohammed bin Zayed Al Nahyan on Nov. 26, 2024.
This MOU identifies several areas of collaboration particularly renewable energy; 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.
“At its core, this partnership reflects the mutual recognition that energy lies at the heart of development. By combining the UAE’s leadership in innovative energy solutions with the Philippines’ ambitious drive for energy security and sustainability, this initiative has the potential to transform not only industries but also the lives of millions of Filipinos,” Lotilla said.
The energy chief said that by attracting investments in energy infrastructure, the partnership will generate new jobs, enhance local expertise through technology transfer and capacity building, and support the development of a robust energy ecosystem.
He said the focus on these five areas will ensure that these advancements benefit all sectors of society, contributing to a more equitable distribution of resources and opportunities.
The terms of the agreement were discussed with UAE Minister of Energy and Infrastructure Suhail Mohamed Faraj Al Mazrouei during our meeting in Abu Dhabi last month.
“Our dialogue emphasized fostering meaningful business collaborations and positioning the Philippines as a prime destination for Emirati investments in critical energy sectors, including developing robust energy infrastructure and advancing renewable energy projects. To operationalize this MOU, an Implementation Agreement with a UAE state-owned company is expected by January next year,” Lotilla said.
