UAE, Greece invest $4.2 bln in energy and industry

Greece

ATHENS, May 10, 2022 – The UAE and Greece have jointly agreed to invest USD 4.2 billion in the Mediterranean country, including its energy sector, Reuters announced on Monday.

Greece’s Prime Minister Kyriakos Mitsotakis met with Crown Prince Sheikh Mohamed bin Zayed bin Sultan Al Nahyan in Abu Dhabi. The meeting saw the two countries sign nine contracts in various industrial sectors.

Adnoc and Motor Oil Hellas Corinth have agreed to explore LNG options in Greece, including a floating storage and regasification unit near Athens.

Abu Dhabi Future Energy Company and Motor Oil Hellas Corinth agreed to pursue offshore wind farms and renewables projects.

The deals will see renewed collaboration between Greece’s Hellenic Development Bank and UAE’s Mubadala Investment Corporation.

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