The partnership will focus on projects in refined petroleum products, liquefied natural gas, renewables, and hydrogen and its derivatives.
It will further promote sustainable development, decarbonisation and progressive climate action as both countries work towards achieving the objectives of the Paris Agreement and the Glasgow Climate Pact.
The partnership was signed during Mr Nehammer's state visit to the UAE.
It was signed by Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, and Austrian Federal Minister of Finance Magnus Brunner, news agency Wam said.
Dr Al Jaber is also the UAE's special envoy for climate change and managing director and group chief executive of Abu Dhabi National Oil Company.
“The UAE and Austria enjoy close and friendly bilateral relations and we are further deepening our ties through this new Strategic Energy Security and Industrial Co-operation partnership,” Sheikh Mohamed said.
“The UAE will continue to be a reliable and responsible energy provider, building and strengthening partnerships to drive economic and industrial growth, support global energy security and power a more sustainable future.”
Mr Nehammer said the high-level meeting in Abu Dhabi marks another milestone in co-operation between the two countries.
“The UAE is an important strategic partner for us and helps us ensure our energy security,” he said.
“Our discussions today went far beyond the supply of LNG for Austria's energy supply and also covered economic co-operation and the joint fight against climate change.
“I am pleased that we were also able to record this in a joint declaration. Together we strive to work towards a more sustainable and brighter future.”
The Austrian leader also extended his particular thanks to Sheikh Mohamed for the “excellent co-operation”.
In return, Sheikh Mohamed thanked Mr Nehammer for his efforts to expand co-operation with the UAE and wished Austria continued progress, growth and stability.
The signing ceremony was also attended by Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court; Sheikh Mohammed bin Hamad, adviser for Special Affairs at the Ministry of the Presidential Court; Suhail Al Mazrouei, Minister of Energy and Infrastructure; Khaldoun Al Mubarak, chairman of the Executive Affairs Authority and member of the Executive Council; and Hamad Al Kaabi, the UAE's ambassador to Austria.
Several Austrian government officials, including Leonor Geoffsler, Federal Minister for Climate Action, Environment, Energy, Mobility, Innovation and Technology, and Etienne Berchtold, Austria's ambassador to the UAE, also attended the ceremony.
A separate agreement was signed between Adnoc LNG and OMV Gas Marketing and Trading Gmbh to explore opportunities to supply gas to Austria, secure its energy supply for the winter period of 2023-2024 and decarbonise its energy sources.
Mr Nehammer received a guard of honour upon his arrival in Abu Dhabi. He was received by Sheikh Khalifa bin Tahnoun, Executive Director of the Martyrs' Families' Affairs Office at the Abu Dhabi Crown Prince's Court.
He also visited Wahat Al Karama, a war memorial in the capital, and wrote in the visitor’s log, paying his respects to the brave martyrs of the UAE.