Participation
According to Reuters, RWE and Masdar said they intend to consider joint participation in German offshore wind auctions in 2027 under a Memorandum of Understanding with an indicative investment value exceeding €3 billion.
With a trade relationship worth around $15.5 billion a year, Germany and the UAE have been seeking closer relations to counter growing political uncertainty and disruption caused by the U.S.-Israeli war in Iran.
RWE also signed a letter of intent with ADNOC on future supplies of liquefied natural gas, building on an initial framework agreement between the two parties in February.
“The UAE and Germany are building on decades of trusted partnership to advance economic growth and shared prosperity for the long-term,” Sultan al-Jaber, ADNOC CEO and the UAE’s Minister of Industry and Advanced Technology, said.
Both parties plan to agree terms for up to two LNG offtake agreements to supply German as well as other European and Asian markets from the early 2030s. Any LNG volumes are to come from ADNOC Gas and ADNOC’s international arm XRG.
XRG, ADNOC, and German state-owned energy firm SEFE also signed an MoU to explore deeper cooperation in the fields of natural gas and LNG.
