UAE, China ink energy cooperation agreements
By SUMMER SAID
United Arab Emirates said Tuesday that its Abu Dhabi National Oil Co., or ADNOC, signed an energy cooperation agreement with China National Petroleum Corp., or CNPC. 
The agreement will promote cooperation between the two sides in areas like production and storage of oil, state run WAM news agency reported.
It also aims to enhance cooperation in petrochemicals, technical services, engineering and construction services.
The oil-rich Gulf state also signed a memorandum of understanding with the Asian country, which will pave the way for it to work closely with Chinese firms and institutions on the development and advancement of sustainable energy.
Under the new deal, the two sides will collaborate on joint investment in areas like sustainable technology and large utility-scale renewable energy projects, as well as joint research on renewable energy projects.
The signing came at the end of the Chinese Premier Wen Jiabao's trip to the country, part of a six-day tour of the Gulf region.
China on Sunday inked an agreement with top oil exporter Saudi Arabia to enhance cooperation in development and use of atomic energy for peaceful purposes.
China appears to be preparing to play a larger role in the global nuclear industry.
In recent years it has been active in acquiring uranium assets abroad and obtaining advanced Western nuclear technology, which it hopes to begin exporting during the coming decades.
The Asian country has adopted technology from Westinghouse Electric Co., a unit of Toshiba Corp., to develop a domestic version of the company's AP1000 nuclear reactor.
The lure of the Chinese nuclear market, among the world's fastest-growing, allowed Beijing to force the US-based company to trade technology and know-how in exchange for market access.
Westinghouse is helping China localize AP1000 technology, including passive safety systems that many say could have helped prevent last year's disaster at Fukushima, Japan.
Westinghouse is working with the Chinese to determine the feasibility of scaling up the AP1000. Early models of the reactor are expected to produce 1154 megawatts equivalent, while analysts say future Chinese versions could perhaps be much larger.
Some experts have raised concerns over the pace at which China is localizing the untested AP1000 technology and scaling up its power production capacity, potentially for export to countries with little nuclear experience.
China appears to eventually want to challenge Western nuclear equipment manufacturers like Westinghouse, though it appears to be years, if not decades, away from doing so.
At home, China hopes nuclear power will help wean its reliance on burning coal.
Beijing also sees its likely cheaper reactor prices and competitive financing as ways to thrust its nuclear industry onto the global stage and shore up manufacturing jobs.
Dow Jones Newswires
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