The head of ADNOC said that by 2035, the UAE and the United States will invest $440 billion in the energy sector

Sultan Al-Jaber, head of the UAE oil giant ADNOC, said Friday that the Arab Gulf State and the United States plan to spend $440 billion in the energy sector by 2035.

The U.S. is expected to invest $60 billion in the U.S. energy project, a group for the UAE’s U.S. Economic Dialogue announced during a visit to the Gulf by U.S. President Donald Trump.

Trump pledged Thursday to strengthen ties with the UAE, announcing a total of more than $200 billion in deals with the Gulf State, including a $14.5 billion commitment from Etihad Airways to invest 28 Boeing aircraft.
The White House said the UAE pledged a $1.4 trillion investment framework in the U.S. after top U.S. officials met with Trump in March.

The White House said in a statement that the framework would “significantly increase the UAE’s existing investment in the U.S. economy” in AI infrastructure, semiconductors, energy and manufacturing.