The UAE said today, Friday, that it intends to increase the value of its investments in the energy sector in the United States to more than $ 400 billion during the next ten years, in a boost for US President Donald Trump’s efforts to conclude major trade deals during his tour in the Gulf region.
The head of the Abu Dhabi National Oil Company (ADNOC) announced Sultan Al -Jaber’s strategy during his presentation in front of Trump, at the last station of his tour of the region.
Al -Jaber confirmed to Trump that the UAE will raise the institutional value of its investments in the US energy sector to 440 billion dollars by 2035 from 70 billion dollars currently, adding that US energy companies will also invest in the UAE.
Al -Jaber said, during his presentation of a board showing projects in the UAE implemented by American companies such as Exxon, Bell, Oxy and EOG Resources, that his country’s partners pledged new investments worth $ 60 billion in the oil and gas sectors, including creating new and unconventional opportunities.
The UAE has already adhered to last March, when Emirati officials met Trump, with a 10 -year investment in the United States with a value of $ 1.4 trillion to consolidate bilateral relations.
The White House stated in a statement that this framework “will increase the UAE’s investments in the American economy” in the areas of artificial intelligence infrastructure, semi -conductors, energy and manufacturing.
“We are making great progress in the amount of $ 1.4 trillion, which the UAE announced that it intends to spend in the United States,” Trump said.
“The two countries also agreed to establish a path for the UAE to buy some of the most advanced semiconductors in the world of artificial intelligence in the world from American companies, it is a very big contract,” he added.
