Dubai: The ADNOC Gas’ 10-year supply deal with EWEC (Emirates Water & Electricity Company) is turning out to be quite the win-win.
The deal allows for ADNOC Gas Facilities provide EWEC with a ‘flexible’ sales and purchase agreement, and one that’s valued at $10 billion.
“As we accelerate the integration of renewable and clean energy and advanced technologies, natural gas plays a critical role in bridging the gap between traditional and sustainable energy sources,” said Othman Al Ali, CEO of EWEC.
“This partnership strengthens EWEC’s ability to deliver a secure, efficient, and decarbonised water and electricity system.”
The deal also ties in neatly with the UAE able to make optimum use of its natural gas reserves for its industrial needs. This way, “We are working to ensure the UAE’s self-sufficiency while continuing to fuel over two-thirds of the nation’s industries, driving sustainable economic growth and diversification,” said Fatema Al Nuaimi, CEO of ADNOC Gas.
The extended tenure of the agreement also provides ADNOC Gas clarity on the financial inflow coming from EWEC.
Under the UAE’s ‘2050 Strategic Initiative’, gas-fired plants provide vital ‘transitional capacity’, and enabling the continued integration of large-scale renewable and clean energy.
The gas supply are meant for EWEC plants across Abu Dhabi and the UAE.
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