RWE signs MoU with ADNOC
Published by Jessica Casey,
Editor
LNG Industry,
Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and German Chancellor, Friedrich Merz, have witnessed the exchange of a memorandum of understanding (MoU) between RWE and ADNOC, marking a new chapter in advancing energy security in Germany and across Europe.
The agreement was exchanged by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC and Chairman of Masdar, and Dr Markus Krebber, CEO of RWE, during the Chancellor’s state visit to the UAE.
The strategic collaboration agreement between ADNOC and RWE sets out the framework to explore collaboration on LNG deliveries to Germany and other European markets, of up to 1 million tpy of LNG for up to 10 years. This corresponds to up to 12 cargoes of LNG and up to 1.4 billion m3/y of natural gas. The agreement reaffirms both parties’ commitment to long-term co-operation. RWE and ADNOC have also agreed to explore collaboration on short-term LNG trading activities between their respective global LNG portfolios.
Krebber said: “I am very pleased about our strategic collaboration with ADNOC, which underscores our shared commitment to securing Europe’s energy needs. Our plans build on a successful and long-lasting partnership. By establishing new LNG supply agreements, we are strengthening the security of supply for Germany and across Europe, while further diversifying RWE’s global LNG portfolio for the benefit of our customers.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09022026/rwe-signs-mou-with-adnoc/
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