Japan, UAE strike first fuel ammonia cooperation deal

A general view taken on May 29, 2019 shows the sea front promenade in the Emirati capital Abu Dhabi with the ADNOC headquarters (Abu Dhabi National Oil Company) office complex (C) in the foreground. (AFP/File Photo)
A general view taken on May 29, 2019 shows the sea front promenade in the Emirati capital Abu Dhabi with the ADNOC headquarters (Abu Dhabi National Oil Company) office complex (C) in the foreground. (AFP/File Photo)
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Updated 14 January 2021

Japan, UAE strike first fuel ammonia cooperation deal

A general view taken on May 29, 2019 shows the sea front promenade in the Emirati capital Abu Dhabi with the ADNOC headquarters (Abu Dhabi National Oil Company) office complex (C) in the foreground. (AFP/File Photo)
  • Japan plans to develop its supply chain of blue ammonia in the Middle East by the end of the decade, according to S&P Global Platts

DUBAI: Japan’s Ministry of Economy, Trade and Industry (METI) struck its first fuel ammonia cooperation deal with the UAE’s Abu Dhabi National Oil Company (ADNOC).

On Jan. 14, the signing of the memorandum of cooperation took place during a virtual meeting between METI Minister Hiroshi Kajiyama and ADNOC CEO and the UAE’s Minister of Industry and Advanced Technology Sultan Al-Jaber, METI said in a statement.

The two countries also agreed to further advance bilateral cooperation in areas including hydrogen and fuel ammonia. Japan plans to develop its supply chain of blue ammonia in the Middle East by the end of the decade, according to S&P Global Platts.

The UAE is Japan’s second-largest crude oil supplier, accounting for over 30 percent of oil imports right after Saudi Arabia.

READ MORE: Japan receives first shipment of blue ammonia from Saudi Aramco, SABIC

Abu Dhabi is pushing toward a clean energy initiative through ADNOC, which has a new unit that will focus on hydrogen.

“The directorate will also lead ADNOC activities to capitalize on the emerging global market for hydrogen, building on the company’s existing position as a major producer with existing infrastructure, partnerships and customer relationships,” ADNOC said in a statement on Jan. 13.

In September of last year, Japan received its first shipment of blue ammonia from Saudi Aramco, in partnership with Saudi Basic Industries Corporation. The shipment contained 40 tons of high-grade blue ammonia and is meant for use in zero-carbon power generation.


FII confirms over 140 global speakers for 2021 event

FII confirms over 140 global speakers for 2021 event
Updated 24 min 28 sec ago

FII confirms over 140 global speakers for 2021 event

FII confirms over 140 global speakers for 2021 event
  • The theme for 2020 will be “The Neo-Renaissance”

DUBAI: More than 140 prominent international speakers have been confirmed to speak at this year’s Future Investment Initiative (FII), which will take place on Jan. 27-28.

Some of the top names announced this week include Saudi Energy Minister Prince Abdul Aziz bin Salman; David Solomon, chairman and CEO of Goldman Sachs Group; Credit Suisse Group CEO Thomas Gottstein; Reliance Industries Chairman Mukesh Ambani; Patrick Pouyanné, chairman and CEO of Total; Lord Gerry Grimstone, the UK’s minister of state for trade; Hyperloop One co-founder Josh Giegel; and David Rubenstein, co-founder and co-executive chairman of The Carlyle Group.

The theme for 2020 will be “The Neo-Renaissance,” and due to travel restrictions as a result of the coronavirus pandemic, 60 speakers will attend in-person in Riyadh, while 80 will participate virtually from hubs in New York, Paris, Beijing and Mumbai.

Some of the other speakers will include Yasir Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund and chairman of the FII Institute; Ray Dalio, co-chairman and chief information officer of Bridgewater Associates; Snam CEO Marco Alvarez; Dr. Sultan Al-Jaber, the UAE’s minister of industry and advanced technology, and special envoy and group CEO of the Abu Dhabi National Oil Co.; Eric Cantor, vice chairman and managing director of Moelis & Co.; Sultan Ahmed bin Sulayem, group chairman and CEO of DP World; and Saudi Investment Minister Khalid Al-Falih,

In addition, delegates can expect to hear from Princess Reema bint Bandar bin Sultan Al-Saud, Saudi ambassador to the US; Dr. Kai Fu Lee, co-founder, chairman and CEO of Sinovation Ventures; Thomas Barrack, executive chairman of Colony Capital; EDF CEO Jean Bernard Lévy; Jean Todt, president of Fédération Internationale de l’Automobile; Mahindra Group Chairman Anand Mahindra; and Anthony Scaramucci, founder and managing partner of SkyBridge Capital and former White House director of communications.