UAE and Germany sign new energy agreement UAE and Germany sign new energy agreement
Now Reading
UAE and Germany sign new energy agreement

UAE and Germany sign new energy agreement

The agreement will accelerate projects of joint interest in areas of energy security, decarbonisation and climate action

Avatar
energy agreement

A new energy security and industry accelerator (ESIA) agreement was signed between the UAE and Germany officials to accelerate projects of joint interest in areas of energy security, decarbonisation and climate action.

The agreement was signed in the presence of UAE President, Sheikh Mohamed bin Zayed Al Nahyan and German Chancellor, Olaf Scholz.

As part of the alliance, Abu Dhabi National Oil Company (ADNOC) has entered into an agreement with RWE, whereby it will supply an liquified natural gas (LNG) cargo towards the end of the year. This will be used in the commissioning of Germany’s floating LNG import terminal at Brunsbüttel. ADNOC has reserved a number of LNG cargos for German customers in 2023, official news agency WAM reported.

Under the proposed ESIA agreement, both countries are to explore further opportunities to accelerate growth and collaboration across the hydrogen value chain.

Furthermore, UAE’s Masdar will explore opportunities in the offshore wind markets in the North Sea and Baltic Sea in Germany that could generate up to 10GW of renewable energy production capacity by 2030. This will be contingent on German policy and regulatory requirements being met between the two nations.

Earlier this year, the Abu Dhabi-based company entered into a number of agreements with German customers, including Steag and Aurubis for demonstration cargos of low-carbon ammonia, a carrier fuel for hydrogen. The first of these cargoes arrived in Hamburg earlier this month.

Read: Abu Dhabi’s ADNOC signs agreements with German companies to collaborate on clean hydrogen

ADNOC had also completed the UAE’s first direct diesel delivery to Germany in September 2022, and has agreed the terms with Wilhelm Hoyer & Co. to supply up to 250,000 tons of diesel per month in 2023.

The agreement was signed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Climate Special Envoy, and ADNOC managing director and group CEO and Dr. Franziska Brantner, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action.

Olaf Scholz said: “Through ESIA, we enable the swift implementation of strategic lighthouse projects on the focus areas of renewable energies, hydrogen, LNG and climate action.”

“As we embrace the energy transition, ADNOC is fully committed to accelerate and invest in projects of energy security, decarbonization and climate action as we continue to be a responsible and reliable provider and trusted exporter of low-carbon energy,” added Dr Sultan Al Jaber.

ADNOC has been providing energy products to its international customers. It is currently in the midst of a major expansion of its natural gas business, accelerating production to meet both domestic and international demand, the statement said.

You might also like

© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top