TAQA and Turkish Energy Ministry agree to form joint committee to explore future energy investment opportunities

Press release

Published May 22nd, 2012 - 06:54 GMT

Al Bawaba

A delegation from Abu Dhabi National Energy Company TAQA has made a formal visit to Turkey to discuss ways of developing the relationship between Abu Dhabi and Turkey and to identify investment opportunities in Turkey’s energy sector.

The TAQA delegation was led by H.E. Hamad Al-Hurr Al-Suwaidi, Chairman of TAQA’s Board and Chairman of the Abu Dhabi Department of Finance. Also present were the UAE’s ambassador to Turkey H.E. Khalid Khalifa Al Mualla; Vice-Chairman of TAQA’s Board H.E. Abdulla Saif Al-Nuaimi; CEO of TAQA Carl Sheldon, and TAQA’s Executive Officer Power & Water Frank Perez.

The programme for the visit included meetings between the TAQA delegation and representatives from the Turkish Energy Ministry, led by the Turkish Energy Minister Taner Yildiz. As a result of these meetings, TAQA and the Turkish Energy Ministry have agreed to form a joint committee to discuss the investment opportunities available in the energy sector in Turkey.During the visit a meeting also took place between TAQA’s H.E. Hamad Al-Hurr Al-Suwaidi and Turkey’s Minister of Finance Mehmet Şimşek.

H.E. Hamad Al-Hurr Al-Suwaidi, Chairman of TAQA said: “This visit has further strengthened the relationship between Turkey and Abu Dhabi, and has been a successful follow-up to the official visit made in March by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.”

Carl Sheldon, CEO of TAQA said: “Developing our international power business in the Middle East and North Africa region is a core to TAQA’s growth strategy. We have ambitious plans for growth and consider Turkeyto be an attractive market offering a range of investment opportunities. We look forward to working more closely with the Turkish Energy Ministry in the future.”

Background Information

Abu Dhabi National Energy Company

Abu Dhabi National Energy Company (TAQA) is a global energy company majority owned by the Abu Dhabi Government and listed on the Abu Dhabi Securities Exchange.

Its activities include oil and gas, power generation and water desalination across five continents. With operations in the UK, the Netherlands and North America, our oil and gas business includes exploration and production, storage and pipelines. It produces almost 137,000 barrels of oil equivalent per day in the North Sea and North America, as well as operating and developing extensive gas storage facilities in the Netherlands.

TAQA is the 6^th largest independent power producer in the world. Its power plants are located in the United Arab Emirates, Morocco, Saudi Arabia, Ghana, India, and the United States. TAQA is the majority owner in the facilities that provide 98% of the water and electricity requirements in the Emirate of Abu Dhabi.

Established in 2005, TAQA’s entrepreneurial culture has laid the foundations for long-term sustainable growth building on its commitment to people, safety and the environment.