Adnoc and RWE Supply & Trading (RWE) announced a strategic collaboration agreement to explore opportunities for LNG supply to Germany and European markets of up to 1 mtpa for a period of up to 10 years.
The announcement was
made during the visit of Friedrich Merz, Chancellor of the Federal Republic of
Germany, to Adnoc’s headquarters as part of his official visit to the UAE.
As part of the
agreement, both companies will also explore collaboration in LNG trading,
regasification capacity in Germany and Europe, and broader opportunities across
the gas and LNG value chain.
Masdar and RWE also
signed a Memorandum of Understanding (MoU) to identify and pursue investments
in battery energy storage system (BESS) projects in Germany.
The visit also
witnessed the signing of an MoU between Covestro, Fertiglobe, and Ta’ziz to explore
cooperation opportunities in ammonia and sustainable materials.
The visit builds on
the €14.7 billion ($17.3 billion) investment to support Covestro’s long-term growth as a German industrial
champion by XRG, Adnoc’s international energy investment company, and underscores Adnoc’s central role in
advancing the UAE-Germany strategic energy partnership.
Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Managing
Director and Group CEO of Adnoc, Chairman of Masdar and Executive Chairman of
XRG, welcomed Chancellor Merz and his delegation, alongside senior executives
from Adnoc,
XRG and Masdar.
During the visit, Chancellor Merz was briefed on how
Adnoc is set to help meet
Germany’s growing energy needs with more liquefied natural gas (LNG) supplies,
building on its recent offtake agreements for 1.6 million tonnes per annum
(mtpa) of LNG with German companies from the Ruwais LNG project.
Additionally, Adnoc is currently
supplying 0.7 mtpa of LNG to German customers from its legacy facilities until
the Ruwais LNG project comes online.
The Chancellor was given a tour of Adnoc’s
state-of-the-art Panorama Digital Command Centre
and Artificial Intelligence (AI) Lab and shown how the company is integrating
AI from the control room to the board room and deploying advanced technology to
maximise value and efficiency.
Dr Al
Jaber said: “It was an honour to welcome Chancellor Merz to Adnoc Headquarters
and to reaffirm the strength of the long-term UAE-Germany strategic
partnership, which is based on trust, anchored in mutual respect and built on
delivery. The Chancellor’s visit to the UAE has provided a platform to unlock
new opportunities for partnership across key sectors including energy,
industry, AI and advanced technology and we look forward to greater
collaboration with our German partners to create long-term value and drive
socioeconomic progress.” -OGN/TradeArabia News Service
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