The Chancellor of the Federal Republic of Germany, Friedrich Merz, recently was on an official trip to the United Arab Emirates (UAE). Reportedly, during this trip, he also visited the headquarters of Abu Dhabi National Oil Company (ADNOC). The trip is an initiative to strengthen the energy partnership between Germany and the UAE.
This visit took place after XRG made an investment of €14.7 billion. XRG is ADNOC’s international energy investment arm. The investment was made to support Covestro's long-term growth. This is one of Germany's major industrial chains producing advanced and high-performance polymers around the world
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The investment focuses on ADNOC’s major role in developing the strategic energy partnership between Germany and the UAE. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, Executive Chairman of XRG, and Chairman of Masdar, welcomed Chancellor Merz and his delegation. Senior executives from Masdar, ADNOC and XRG also took part in the discussions.
During the recent visit, ADNOC’s expanding contributions to Germany’s energy security were highlighted to Chancellor Merz. The contributions were mostly through the increased supply of liquefied natural gas (LNG).
Recently, ADNOC has secured a deal with German companies for 1.6 million tonnes per annum (mtpa) of LNG. This deal is part of its upcoming Ruwais LNG project. Currently, ADNOC supplies 0.7 mtpa of LNG to German customers from its existing facilities. This aims to maintain constant support until the Ruwais project is executed.
The agreement also highlights collaboration in regasification capacity and LNG trading in Germany and Europe. Thus, bringing more opportunities in the LNG and gas value chain. The visit also saw other key announcements. These included:
Collaboration between RWE Supply & Trading GMBH (RWE) and ADNOC
Exploring LNG supply opportunities in European and German markets. Aims for 1 mtpa for up to 10 years.
Masdar and RWE agreed on a Memorandum of Understanding (MoU). This investment will explore battery energy storage systems (BESS) projects within Germany.
Another major signing was an MoU among Fertiglobe, Covestro, and TA’ZIZ. The deal aims to explore cooperation in sustainable materials and ammonia.
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Moreover, “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,” Dr. Sultan Ahmed Al Jaber concluded.