DUBAI: President Donald Trump’s hopes to land big business agreements during a Gulf visit will be aided by the UAE’s announcement on Friday that it intends to enhance the value of its energy investments in the US to $440 billion over the next ten years.
The CEO of the Abu Dhabi oil company ADNOC, Sultan Al-Jaber, presented the idea to Trump on the final leg of his regional tour, which has attracted significant financial pledges from the UAE, Saudi Arabia, and Qatar.
Al-Jaber informed Trump that US energy companies will also invest in the UAE, and that the enterprise value of UAE investments in the US energy industry will increase from $70 billion to $440 billion by 2035.
In front of a PowerPoint displaying projects in the United Arab Emirates with the logos of US corporations ExxonMobil, Oxy, and EOG Resources, Al Jaber stated, “Our partners have committed new investments worth $60 billion in upstream oil and gas, as well as new and unconventional opportunities.” When senior UAE officials visited with Trump in March, the UAE had already committed to a 10-year, $1.4 trillion investment plan in the US to strengthen reciprocal links.
According to a White House statement, the framework would “substantially increase the UAE’s existing investments in the US economy” in manufacturing, semiconductors, energy, and AI infrastructure.
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