Dubai’s Emirates National Oil Company (ENOC) announced the first expansion of its jet fuel network in China with the establishment of 14 airports on Tuesday, demonstrating China’s growing ties with the United Arab Emirates.
The government-owned oil and gas company said the expansion will extend to strategic cities including Beijing, Shanghai, Guangzhou, Shenzhen, and Chengdu.
ENOC Group CEO Saif Humaid Al Falasi said the decision is in accordance with its strategy to fulfill the rising global demand for reliable energy.
“We are at the forefront of delivering world-class sustainable and integrated energy solutions, and expanding our jet fuel network to some of the busiest airports in China is a testament to this,” Falasi said in the Tuesday press release from ENOC, which has 300 airports in 25 countries in the Middle East, Africa, Southeast Asia, Europe and now soon to be East Asia.
This announcement serves as another example of the advancing energy relationship between the UAE and China in 2023 with a number of recent major developments.
The China National Offshore Oil Corporation conducted the first-ever yuan-settled energy deal involving 65,000 tons of Emirati liquified natural gas (LNG) in March of this year. About a month later, the Emirates Nuclear Energy Corporation signed three agreements with Chinese nuclear energy organizations in April to advance the UAE’s nuclear industry, signaling their evolving energy relationship.
Undersecretary of the UAE Ministry of Economy Abdullah Al Saleh said that the UAE has been China’s number one Arab and Gulf trade partner since 2021.
“China is also the UAE’s top global trade partner as the value of non-oil trade between the two countries exceeded AED 264.2 billion ($72 billion) in 2022, reflecting an 18% growth from AED 223.8 billion ($61 billion) in 2021,” a March 2023 ministry statement quoted him as saying when he was on the sidelines of the UAE-China Economic Forum in Dubai.
Increased UAE-China trade and business has also played out in Dubai real estate, which saw Chinese buyer sale transactions increase by 40% in February of this year compared to the same month in 2022, reported Dubai-based real estate brokerage Allsopp & Allsopp. It also regained its place among the top three buyers in the city, recording an all-time high for sales transaction value.
Dubai continued to see “significant investment” from Russia and Commonwealth Independent State countries in the first half of 2023, along with Chinese buyers in Q2 of this year, reported Allsopp & Allsopp in its Dubai Real Estate Market Snapshot H1 2023 report published in late July.
From Beijing to Chengdu, UAE’s ENOC Establishes First China Jet Fuel Network
August 9th, 2023
August 9th, 2023
Via Al Monitor, an article on expansion of UAE’s national oil company’s jet fuel network into China:
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