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04/11/2008

Britain Signs New Gulf Green Deal

Britain has teamed up with two oil-rich Gulf states to secure a mix of reliable and green energy supplies for the UK and which could see hundreds of millions of pounds pumped into the green energy revolution.

The announcements were made during a visit to the Gulf by Prime Minister Gordon Brown and Energy and Climate Change Secretary Ed Miliband.

Mr Brown said: "I applaud the vision and leadership which Masdar has shown in investing in the development and deployment of low carbon energy technologies. The United Kingdom looks forward to collaborating with Masdar through this agreement, bringing together the best of British and Abu Dhabi expertise for the benefit not only of our two peoples but for the world as a whole."

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Mr Miliband said: "As every country tackles the twin challenges of energy security and climate change, both oil producing and oil consuming nations need to diversify our energy economies. Low carbon sources - from wind and solar through wave and tidal to carbon capture and storage - can provide a new engine of global economic growth. So this partnership represents a significant contribution to our sustainable prosperity.

"The Gulf's oil and gas will continue to be an important source of energy for the UK, but with the impending threat of dangerous climate change and growing global energy demand, the UK and the rest of the world needs to diversify its energy supplies.

"These agreements show how Qatar and the UAE are serious about tackling climate change, diversifying their economies and providing secure energy supplies for the UK. The Gulf states recognise the UK too has natural assets, like wind, that offer investment opportunities for them."

(CD)

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