The United States and the United Arab Emirates (UAE) aim to invest a combined $440 billion in the energy sector by 2035, UAE state oil company ADNOC’s chief executive Sultan Al Jaber said on Friday.
The U.S. will contribute around $60 billion to energy projects in the UAE. In return, the Gulf nation will invest in energy and technology ventures across the United States.
The announcement came during U.S. President Donald Trump’s visit to the Middle East, during which more than $200 billion in deals with the UAE were revealed.
The two countries also pledged to deepen cooperation in artificial intelligence. On Thursday, President Trump and UAE President Sheikh Mohamed bin Zayed Al Nahyan attended the launch of a 5-gigawatt UAE-U.S. AI Campus in Abu Dhabi.
According to the U.S. Department of Commerce, the AI campus will support data centers with 5 GW of capacity. These centers will serve U.S. tech firms and offer low-latency services to nearly half of the world’s population within a 3,200 km radius of the UAE.
Earlier this year, the UAE announced a 10-year investment framework to inject $1.4 trillion into the U.S. economy.
As part of its strategy, ADNOC has grouped some of its U.S.-based natural gas and green energy assets under a new investment arm, XRG.
“Under the XRG umbrella, we are partnering with Exxon on the world’s largest ammonia and hydrogen plant in Texas,” said Al Jaber, who also serves as the UAE’s Minister of Industry and Advanced Technology. “We are investing with NextDecade in Texas’ biggest LNG project and, through our acquisition of Covestro, supporting thousands of U.S. jobs in advanced polymers and plastics.”
President Trump’s regional tour also saw major agreements signed with Saudi Arabia and Qatar, boosting cooperation in both energy and technology sectors.
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