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between Adnoc and the Japan Bank for International Cooperation (JBIC) for green
financing worth $3 billion. This agreement will support Adnoc’s pioneering efforts in
reducing emissions and adopting low-carbon solutions in its operations.A Memorandum
of Cooperation was also signed regarding strategic reserves between Adnoc and the
Natural Resources and Energy Agency (affiliated with the Japanese Ministry of
Economy, Trade and Industry - METI) aimed at enhancing cooperation between the two
countries in the field of energy and ensure its security and sustainability.

The MoC will support the growth of the Japanese economy by providing a strategic
reserve that helps mitigate energy price shocks amid market and supply chain
fluctuations.During his meeting with Kamikawa Yoko, Minister of Foreign Affairs, Dr.
Sultan praised the UAE-Japanese relations, which are witnessing remarkable
development within the framework of the comprehensive strategic partnership. The talks
included the latest developments in the implementation of joint projects, programs and
initiatives and enhancing cooperation horizons.Dr. Sultan Al Jaber also met with Ken
Saito, Japanese Minister of Economy, Trade, and Industry.

The meeting reviewed the various aspects of economic cooperation between the two
countries and ways to enhance them to serve mutual interests. Additionally, they
explored ways to strengthen trade, investment, energy, renewable energy, industry,
advanced technology, and other fields of mutual interest.

Dr Sultan Al Jaber held a meeting with Taro Kono, Minister of Digital Transformation,
where the two sides affirmed their keenness to cooperate in the field of advanced
technology and digital transformation, including artificial intelligence and its applications
in various vital sectors, supporting and encouraging related industries, and working to
explore investment opportunities and joint projects in these areas.UAE Delegation: The
UAE delegation included Dr Thani Ahmed Al Zeyoudi, Minister of State for Foreign
Trade; Saeed Mubarak Al Hajeri, Assistant Foreign Minister for Economic and Trade
Affairs; Musabbeh Al Kaabi, Executive Director of Low Carbon Solutions and
International Growth at ADNOC; Mohamed Al Ramahi, CEO of Abu Dhabi Future
Energy Company “Masdar”; and Thomas Pramotedham, CEO of Presight.The UAE is a
reliable source for supplying Japan with energy sources and is considered a strategic
partner in various fields.

The UAE is the largest supplier of oil to Japan, as its oil exports during the month of
April amounted to about 35.8 million barrels (representing more than 45 percent of
Japan’s imports during the same month). Oil exports in 2023 represented 44.7 percent
of Japan’s total oil imports. On the other hand, the UAE exported the world’s first
certified shipment of low-carbon ammonia to Japan, which was produced using “carbon
capture and storage” technology through cooperation between Vertiglobe and Japan’s
Mitsui. This shipment comes as part of ADNOC’s efforts to accelerate the development
of global value chains for low-carbon hydrogen and ammonia.Mubadala Investment
Company also announced its first renewable energy projects in Japan, through PAG’s
platform (“PAG REN I”), which mainly specializes in providing solar energy to
companies.

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