Germany's RWE and UAE's ADNOC ink LNG deal as Scholz visits Gulf

 

ABU DHABI (Reuters) -German software RWE has struck a address Abu Dhabi country wide Oil company (ADNOC) to deliver liquefied natural gas to Europe's largest economic system by using the quit of December, RWE announced on Sunday.

 

Germany, until recently heavily dependent on Russia for gas, has been seeking to diversify its energy supply since Russia invaded Ukraine in February.

The announcement came on the second day of a two-day trip to the Gulf region by Chancellor Olaf Scholz in his bid to secure alternative energy resources.

"We need to make sure that the production of LNG in the world is advanced to the point where the high demand that exists can be met without having to resort to the production capacity that exists in Russia," Scholz told journalists before the deal was announced.

The LNG delivery will be 137,000 cubic meters and the first to be supplied to a floating LNG terminal at Brunsbuettel near Hamburg, RWE said.

"This marks an important milestone in building up an LNG supply infrastructure in Germany and setting up a more diversified gas supply," RWE said in a statement.

The president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, signed an agreement with Scholz that covers accelerating energy security and industrial growth.

ADNOC further reserved an unspecified number of LNG cargos for Germany in 2023, the state news agency (WAM) reported on Sunday.

Scholz travelled to Qatar after his meetings in Abu Dhabi. On Saturday, he held talks in Jeddah with Saudi Arabia's Crown Prince Mohammed bin Salman.

(Reporting by Andreas Rinke and Moataz Mohamed; Writing by Tom Sims; editing by David Evans and Emelia Sithole-Matarise)

The president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, signed an settlement with Scholz that covers accelerating power safety and business increase.

ADNOC similarly reserved an unspecified range of LNG cargos for Germany in 2023, the state information business enterprise (WAM) stated on Sunday.

Scholz travelled to Qatar after his conferences in Abu Dhabi. On Saturday, he held talks in Jeddah with Saudi Arabia's Crown Prince Mohammed bin Salman.

(Reporting by Andreas Rinke and Moataz Mohamed; Writing via Tom Sims; modifying via David Evans and Emelia Sithole-Matarise)

Germany's two new deliberate floating LNG terminals will subsequently be capable of receive up to 12.five billion cubic meters of LNG a yr, equivalent to approximately thirteen% of the u . s . a .'s gasoline intake in 2021, in keeping with information from research firm Enerdata.

"This marks an vital milestone in building up an LNG deliver infrastructure in Germany and putting in place a more various gas supply," RWE stated in a announcement.

German officers wish an array of deals, just like the one struck with Abu Dhabi for LNG, will assist take the threshold off skyrocketing electricity expenses.

 

earlier on Sunday, the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, signed an agreement with Scholz that covers accelerating strength safety and industrial growth.

one by one, the UAE renewable electricity enterprise Masdar will explore wind electricity improvement off the German coast.

Scholz travelled to Qatar after his meetings in Abu Dhabi. On Saturday, he held talks in Jeddah with Saudi Arabia's Crown Prince Mohammed bin Salman.