Israel’s NewMed Energy says UAE deal suspended amid Gaza 'uncertainty'
Israel-UAE relations have been negatively impacted by the war but still remain intact.
An Israeli energy entity announced on Wednesday that a planned investment by the United Arab Emirates’ state energy company has been suspended, demonstrating how the war in Gaza is affecting Israel-UAE ties.
Israeli gas producer NewMed Energy said in a statement that discussions regarding the proposed transaction with the Abu Dhabi National Oil Company (ADNOC) and British Petroleum (BP) have been suspended, citing “the uncertainty created by the external environment.”
NewMed added that the companies collectively agreed to suspend the talks and reiterated their interest in executing the transaction, but they said it is unclear if and when that could happen.
“The process will remain suspended until such time as discussions resume or the process is terminated. There can be no certainty that discussions will resume or that an agreement will be reached in the future,” read the statement.
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