UAE, Japan Sign Strategic Energy Agreement

The UAE and Japan have signed a Strategic Energy Cooperation Agreement between the Abu Dhabi Supreme Petroleum Council, represented by Abu Dhabi National Oil Company (Adnoc) and the Agency for Natural Resources and Energy of Japan, for the storage of over eight million barrels of crude oil at storage facilities in Japan.

Contract procedure was signed with attendance of his highness Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister of Japan Shinzo Abe.

Within latest years, trade between the UAE and Japan has developed with the most recent statistics showing that Japan exported goods to the UAE of value $7.9 billion while the country imported goods from the UAE of value $27.5 billion in 2018.

Moreover, contract was signed by Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Adnoc Group CEO, and Makihara Hideki, Japan’s State Minister of Economy, Trade and Industry.

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