UAE signs energy agreement with Germany’s Scholz

UAE signs energy agreement with Germany’s Scholz

The president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, has signed an agreement with German Chancellor Olaf Scholz that includes boosting energy security and industrial growth, the state news agency (WAM) reported on Sunday.

The report added that Abu Dhabi National Oil Company (ADNOC) signed an agreement to supply liquefied natural gas (LNG) to German utility RWE. ADNOC will process the first shipment later in the year for use in the trial operation of a floating natural gas terminal in Brunsbuettel.

During his two-day trip to the Middle East, Scholz balanced procuring energy supplies and increasing human rights concerns.

Amid Russia’s cessation of gas deliveries to Germany and surging energy prices in Europe, Scholz visited the region to acquire alternative supplies for his country’s energy-starving economy.

During a stopover in the UAE capital of Abu Dhabi on Sunday morning, the chancellor signed a deal for delivering 137,000 cubic meters of LNG, which is supposed to arrive in northern Germany late in 2022. The gas deal is part of a broader “Energy Security and Industry Accelerator Agreement” between Germany and the UAE, which “will enable the swift implementation of strategic lighthouse projects on the focus areas of renewable energies, hydrogen, LNG and climate action,” Scholz said.