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00:00 Thank you, Miranda. As you know, the UAE had many market initiatives, local or even foreign.
00:08 We are talking about the COP28 and the historic agreements that were announced.
00:13 Perhaps a small part of them was the damage and losses fund that the UAE contributed to,
00:17 with about 100 million dollars in total, the amount of the contracts,
00:21 and 700 million dollars from all the countries in the world.
00:24 But internally and externally, there are many projects being implemented.
00:28 Perhaps the latest figures were 57 billion dollars,
00:32 the cost of these projects so far, but to obtain updates to these figures,
00:36 and also how the UAE's strategy to energy and energy mix at the moment,
00:41 and other things, is going on.
00:43 I am here with, as you mentioned, Mr. Sharif Al-Oulma,
00:46 the Minister of Energy and Infrastructure,
00:49 always welcome, Mr. Sharif.
00:51 Welcome, how are you?
00:52 Let us first ask you about the numbers of investments, where did they reach?
00:55 Thank God, as you know, in the UAE, as you said,
00:59 the amount of investment we have made in renewable and clean energy,
01:03 is about 57 billion dollars.
01:06 We expect that by 2030, when we reach the target of 19.8 gigawatts of clean energy,
01:15 we expect to spend about 50 billion dollars more.
01:20 We have not only invested in the UAE,
01:25 we have also invested in other countries,
01:28 in 70 countries, we have invested about 50 billion dollars,
01:34 and we expect that in the next 10 years, we will invest another 50 billion dollars.
01:39 These investments, of course, part of it will be in partnership with the private sector, Mr. Sharif?
01:45 That's right. We have built a model for partnership with the private sector,
01:52 which is very successful.
01:54 And this is what we have seen in the investments that are in the country,
01:57 whether it is in renewable energy projects in Sheikh Mohammed Mourachid's Association for Solar Energy,
02:03 or in projects for solar energy in the Abu Dhabi Emirate, such as Zafra and others.
02:08 Let me ask you about hydrogen, because there is a lot of talk about this element,
02:13 and the launch of many projects in the Gulf countries and internationally.
02:17 What is the UAE's plan regarding hydrogen?
02:20 We believe that there is a bright future for hydrogen, and that is the fuel of the future.
02:27 For this reason, we have worked with all our partners in the country,
02:32 and we have achieved before the COP a national strategy for hydrogen.
02:37 Our target by the year 2031 is to produce 1.4 million tons of hydrogen.
02:44 This includes two colors, green and blue.
02:48 We expect that this percentage will increase over the years,
02:53 and will reach the 15 million tons annually by the year 2050.
02:58 The hydrogen market is very promising,
03:01 and we see that there is a great demand for hydrogen in European countries.
03:07 There is a lot of discussion between us and our strategic partners, such as Germany and others,
03:12 on the formation of the hydrogen supply chain and exporting hydrogen to Europe.
03:20 We are in discussions with our partners in Germany.
03:23 They have also shown us that, despite their investment in hydrogen projects in the country,
03:30 they are still not ready to export it to Europe.
03:33 We are working with them on a number of concepts, and you will see announcements soon.
03:37 When will the export start?
03:40 We aim to produce hydrogen by the year 2031.
03:44 We expect that there will be an export soon.
03:48 But as you know, if you take blue hydrogen or blue ammonia,
03:52 we have already exported it to Germany, and it was announced earlier.
03:58 So you will see that there will be a number of shipments that we will send over the coming years.
04:05 Regarding the energy strategy that was updated in recent months,
04:10 how much energy have we reached at the moment?
04:14 I will give you some numbers.
04:17 In 2018, the UAE had a clean energy ratio of 1.8 GW of solar energy.
04:27 In three years, we doubled this ratio to 3.6 GW.
04:36 In one year, we reached 6 GW, which is 70% more.
04:42 We are working hard to achieve our target of 14.2 GW of renewable energy by 2030.
04:52 Regarding the energy policy, how will it be implemented and what are the targets?
05:01 We see a great desire from investors, especially from foreign investors,
05:09 to invest in energy in the country.
05:12 We see a high potential in this area,
05:15 and for this reason we have worked on the policy to support foreign investments to enter the country.
05:23 We have included in the policy a certain percentage of fossil fuels that we see suitable for use as a mixture with fossil fuels.
05:35 We have also included some specifications for fossil fuels.
05:39 I see this as a part of the energy mix that we see.
05:45 As you said, the energy that we see in the future will be a mixture.
05:51 It will not be either solar or nuclear.
05:54 It will be a mixture of all energy sources.
05:56 Bye.