Edf, Engie, Technip, Total. All business of French companies with Macron in the United Arab Emirates
Not only Rafale: Macron's trip to the United Arab Emirates has led to the signing of numerous multi-billion dollar memoranda, especially in the field of energy. Here are all the companies interested
The agreements with the United Arab Emirates for the supply of eighty Rafale fighters and twelve Caracal military helicopters have earned French companies Dassault Aviation and Airbus contracts worth over 19 billion dollars in total.
AND NOT ONLY
But these are not the only agreements signed last week by French President Emmanuel Macron and Emirati Crown Prince Mohammed bin Zayed Al Nahyan. As reported by the official press agency of the United Arab Emirates, the WAM , Paris and Abu Dhabi have signed a series of agreements in many different sectors (mainly energy). However, these are memorandums of understanding rather than actual contracts.
THE MEMORANDUMS ON FINANCE
For example, the Emirati sovereign fund Mubadala has signed memoranda of understanding with the French Ministry of Economy and Finance, led by Bruno Le Maire, and with the investment bank Bpifrance: the latter pact is worth 4.5 billion dollars.
As Al Jazeera writes, Mubadala has pledged to invest a total of $ 9 billion in French assets.
The department of Le Maire has also reached a memorandum with the Ministry of Industry and Advanced Technology of the United Arab Emirates and with the holding company ADQ (Abu Dhabi Developmental Holding Company).
THE TOTAL-ADNOC AGREEMENT
The oil companies TotalEnergies (French) and ADNOC (Emirate) have signed a cooperation agreement on the capture of CO2, low-carbon hydrogen and the exploitation of oil and gas resources.
THE BOROUGE-TECHNIP CONTRACT
Technip, a French engineering company focused on the oil & gas sector, has signed a contract worth almost 1.6 billion dollars with the Emirate company Borouge for the construction of an ethylene cracking plant that will expand the Borouge 4 project to Ruwais.
THE ENGIE-MASDAR MEMORANDUM
Engie, a French company that produces and distributes electricity and gas, has signed a memorandum with the Emirati renewable energy company Masdar for a "strategic alliance", reports WAM . The pact focuses on green hydrogen, i.e. obtained from renewable sources, and aims to develop projects in the United Arab Emirates for at least 2 gigawatts of capacity by 2030, with investments of 5 billion dollars.
THE HYDROGEN TO NUCLEAR
The French electricity company Électricité de France (EDF) has instead signed a memorandum of understanding with ENEC, the Emirati company that manages nuclear power plants in the country. The two companies have been collaborating for years; the new pact concerns , among other things, the production of zero-emission hydrogen from nuclear energy.
THE LOUVRE AND THE MOON
France and the United Arab Emirates have also signed a letter of intent on lunar exploration and a government agreement on the Louvre museum. In Abu Dhabi, the capital of the emirate, there is in fact a museum called the Louvre on the basis of a 1.2 billion dollar agreement; the two parties have decided in recent days to extend the license to use the name until 2047.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/francia-emirati-arabi-uniti-memorandum-valore/ on Mon, 06 Dec 2021 08:34:01 +0000.